Myers Amends US Advertising Forecasts
US media spend is set to total $155.6 billion this year, according to new, upgraded forecasts from Jack Myers Report.
Myers Report has slightly revised its figures for 2002 and 2003 in its July update. It had previously calculated that total spend would amount to $151.2 billion this year. Adspend is expected to hit $160.3 billion in 2003, an increase from last month’s forecast of $156 billion (see 2002 US Media Spend To Be Flat, Say Revised Myers Forecasts).
The changes are a result of increased confidence in broadcast and cable media although this is largely negated by the grim prognosis for newspapers and magazines. Spend on press is expected to fall by 5% this year. Overall, growth is forecast to remain flat this year but rise to 3% in 2003.
| US Advertising Forecasts | ||||||
| ÂÂ | 2002 | 2003 | ||||
| Media | Growth | $m | Share | Growth | $m | Share |
| Newspapers | -5.0% | 42,085 | 27.8% | -1.0% | 41,664 | 26.0% |
| Broadcast Networks | 1.0% | 16,281 | 10.1% | 6.0% | 17,258 | 10.8% |
| Loc. & Nat. Spot TV | 4.0% | 19,838 | 13.1% | 3.0% | 20,433 | 12.7% |
| Broadcast Syndication | 4.0% | 2,668 | 1.8% | 6.0% | 2,828 | 1.8% |
| Radio | 4.0% | 19,136 | 12.8% | 3.0% | 19,710 | 12.3% |
| Yellow Pages | 3.0% | 13,977 | 8.9% | 0.0% | 13,977 | 8.7% |
| Magazines | -5.0% | 15,402 | 10.1% | 2.0% | 15,710 | 9.8% |
| Network Cable TV | 4.0% | 12,584 | 6.4% | 10.0% | 13,842 | 8.6% |
| Loc./Reg. Cable TV | 3.0% | 3,952 | 2.6% | 12.0% | 4,426 | 2.8% |
| Online | 4.0% | 4,472 | 3.0% | 15.0% | 5,143 | 3.2% |
| Outdoor | 1.0% | 5,186 | 3.4% | 2.0% | 5,290 | 3.3% |
| Total | 0.0% | 155,581 | 100.0% | 3.0% | 160,281 | 100.0% |
| Source: Jack Myers Report, July 2002 | ||||||
