Global Advertising To Grow 4.5% In 2003, Says Initiative
Global advertising spend will grow by 4.5% in 2003, reaching $262.0 billion – a shade above 2000’s boom-year spend of $259.6 billion, according to figures from Initiative Media.
| Global Advertising Forecasts | ||
| Spend ($bn) | Change (%) | |
| 2000 | 259.6 | – |
| 2001 | 248.6 | -4.2 |
| 2002 | 250.8 | 0.9 |
| 2003 | 262.0 | 4.5 |
| Source: Initiative Media, January 2003 | ||
“The overall message,” says the report, “is that recovery is out there, but not necessarily coming from the traditional and expected places.” It is largely the extraordinary growth of a few markets which is pushing up the global average, despite the contribution of many weaker ones.
The report, whilst published this month, was written in January and at this time Initiative had assumed that there would not be a full-scale conflagration in Iraq. This clearly no longer seems to be the case and so markets which had been forecast to be stronger in 2003, may in reality perform more poorly; the risk for these forecasts is therefore now on the downside.
Media In terms of individual media, it will be television which drives global growth, reaching $134 billion in value this year and raising its share of total advertising to more than 50%, according to the report. Magazines and papers are not expected to return to 2000’s levels, but should show a modest growth of 2.6%.
| 2003 Global Advertising Forecasts By Media | ||
| Spend ($bn) | Change (%) | |
| Television | 134.4 | 6.1 |
| Radio | 11.5 | 3.8 |
| Press | 99.9 | 2.6 |
| Outdoor | 10.9 | 2.2 |
| Cinema | 1.0 | 10.6 |
| Internet | 4.3 | 4.1 |
| TOTAL | 262.0 | 4.5 |
| Source: Initiative Media, January 2003 | ||