Total advertising expenditure will increase by 1% in 2003, according to Publicis, the world’s fourth largest ad network.
The French media group has previously lamented the “lack of visibility” in the worldwide ad market (see
‘Total Lack Of Visibility’ In Ad Market, Says Publicis) but Maurice Levy, the chairman and CEO of Publicis, put his cards on the table at a news conference in Paris yesterday (see
Publicis Chief Reiterates Targets, Rules Out Acquisitions).
Levy said that the market should stabilise in the first half of the year with growth of 1% in the second half. However, he warned that war in the Middle East could jeopardize the situation and echoed the sentiments of WPP chief, Sir Martin Sorrell who claimed this week that there will be no impetus for genuine recovery until next year (see No Impulse For Ad Recovery Until 2004, Says Sorrell).
Last month, Zenith Optimedia, which is a division of Publicis, said that 2003 would see the global advertising market grow by 2.9% in current currency and 1.0% in constant currencies (see World Advertising Forecasts From Zenith Optimedia).
