The 2005 global advertising market is expected to grow by over 3%, according to Maurice Levy, chairman of Paris-based advertising network Publicis.
The chief of the fourth largest communications group in the world told an interview with French newspaper
La Tribune: “The global market is likely to grow next year at a similar rate to the 3.5% that Publicis expects to post this year.”
Levy’s comments are backed up by advertising rival Sir Martin Sorrell. Sorrell said in an unusually upbeat moment: “We are definitely out of the bath.” This refers to Sorrell’s description of the downturn and its subsequent recovery as bath-shaped (see WPP Takes Bullish Stance As Pre-Tax Profits Rise).
Last month, Publicis announced organic growth of 2% in 2003 after achieving extremely ambitious objectives during this period, including the integration of Bcom3 and redistribution of the assets of D’Arcy after dissolving the network (see Publicis Looks Strong, Whilst Interpublic Slumps).
Levy remains optimistic about the group’s performance in 2004 after posting revenues of â‚Ź3.86 billion for 2003, up by 32% over 2002.
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