The global advertising market looks to be increasing in stability, with the latest forecasts from Initiative expecting none of the 56 markets in its survey to see decline in adspend this year.
The expected performance would mark the first year of globally increased adspend since 2000, as events such as the World Cup and Winter Olympics bring the total worldwide spend to $391 billion.
Western Europe is expected to see the smallest growth in media spend, at 3.36% year on year, while Central and Eastern Europe looks to retain its position as the fastest growing market.
Unsurprisingly, Initiative sees the internet maintaining its position as the fastest growing ad medium, with a projected increase of 27% year on year keeping it ahead of rival media for the fourth year running.
Globally, Initiative sees outdoor media being supersceded by the internet this year, with online ads taking a 6.1% share to become the fourth largest medium and beat outdoorinto fifth place with 5.9%.
Not all media will enjoy a strong 2006 however, as Initiative warns that the success of the internet has impacted negatively on the performance of press and radio advertising.
While year on year growth is in evidence, the longer term sees press advertising struggling against the advance of new technology. Since 2002, press advertising looks set to see the largest individual downturn in adspend of any media, losing 4.5% points to a total share of 37.8%.
The downturn is a direct result of the internet in mature markets, and television in Asia, Latin America and Central and Eastern Europe according to Initiative.
Overall, Initiative states that move advertisers are shifting spend below the line, with a focus on price promotions and effective one-to-one advertising becoming more mainstream. The emergence of new technologies can only expedite this change, the agency says.
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