The worldwide advertising market recovery is underway for good says the latest Ad Barometer report from Interdeco. The market turnaround has forced advertising researchers at Interdeco to revise their previous forecasts upwards.
In October 2003, Interdeco said the global market would grow by 3.2% in 2004, but this has now been revised to 4.0%. Assessment of the world ad market in 2003 has also been revisited and growth expectations have increased to 1.9% from 1.7% in October (see Global Advertising Forecasts From Ad Barometer).
| REVISED REGIONAL ADVERTISING GROWTH FORECASTS | ||
| Growth (%) | ||
| 2003 | 2004 | |
| UK | 1.0 | 3.7 |
| US | 2.9 | 4.9 |
| Europe | 0.6 | 3.2 |
| Global | 1.9 | 4.0 |
| Source: Interdeco/Ad Barometer, March 2004 | ||
The report will come as good news to nervous advertisers who had to slow down on spending in the first half of 2003 because of the economic downturn caused mainly by the war in Iraq. However, in the second half of the year things started to turn around and with the stock market picking up, advertisers could once again get back to business.
The report shows that globally the internet sector performed best with an increase of 10.2%, followed by TV then radio, with a growth of 2.8% and 2.2% respectively.
The highest predicted sector growth for next year is set at 11.2% for the internet. High expectations have also been set for TV where a 5.8% rise is expected.
| REVISED GLOBAL ADVERTISING GROWTH FORECASTS | ||
| Growth (%) | ||
| 2003 | 2004 | |
| Daily Press | 1.0 | 3.5 |
| Free Press | 1.6 | 2.2 |
| Consumer Magazines | 1.3 | 2.8 |
| Trade Magazines | -2.9 | 2.0 |
| Television | 2.8 | 5.8 |
| Radio | 2.2 | 1.1 |
| Outdoor | 1.7 | 1.6 |
| Cinema | -1.1 | 0.8 |
| Internet | 20.8 | 13.8 |
| TOTAL | 26.4 | 31.6 |
| Source: Interdeco/Ad Barometer, March 2004 | ||
