ZenithOptimedia has downgraded its UK TV adspend forecast for this year, after a disappointing first quarter and continued uncertainty in the global economy.
Zenith’s Q1 adspend forecast predicts zero growth in TV adspend across 2008, down from a forecast of 2.2% growth in December.
Zenith is also downgrading its forecast for outdoor ad spend in 2008. It is forecasting that outdoor will grow 3.6% this year, compared with 6% growth forecast at the start of this year.
Zenith’s forecast for total UK ad spend this year now predicts growth of 5.5% in 2008, down from a December forecast of 6.2%.
Jonathan Barnard, head of publications at Zenith, said the UK’s expected growth was largely based on the speed with which the UK has embraced the internet, with online ad spend forecast to grow by 25.6% in 2008.
He said: “The growth in internet ad spend will maintain total growth for the UK above 5%, which is pretty good, and healthily above inflation. The US, by contrast, will see little real growth.”
Zenith recently downgraded its combined growth forecasts for North America and Western Europe this year, from 4.4% to 3.8%, although it increased its 2008 forecasts for the rest of the world from 10.9% to 11.1% (see Zenith Downgrades Ad Forecast).
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