To an assembled audience of advertising honchos in Cannes, Jupiter announced yesterday that it was cutting its global online advertising forecasts for 2001 from 47% growth to just 12% due to the extreme uncertainty of the market.
Top advertising executives from around the world are in Cannes for the annual International Advertising Festival to compare notes and drink away the downturn blues. At last year’s event execs were riding high on the dot-com wave and adspend growth was at an all time high, up 116% year on year in Europe and 56% in North America according to Jupiter.
Clearly this year’s figures paint quite a different picture from this with some analysts predicting adspend ‘growth’ to come in as low as -1.5% for 2001 (see Forecasts) and Jupiter have downgraded their forecasts accordingly, consolidating speculation from earlier this year (see Forecasts).
Revised Online Adspend Growth Forecasts From Jupiter
| |
2001 |
| Western Europe |
27% |
| North America |
10% |
| Global Total |
12% |
