Warc raises global ad spend forecast amid a “strengthening market”
Warc has raised its global advertising spend forecasts for 2011 to +5.1%, up from +4.5%.
Warc’s latest Consensus Forecast expects global advertising markets to continue to recover this year, despite the political unrest in the Middle East and the earthquake in Japan.
The 5.1% growth figure remains below the industry average of 6.8% but remains positive compared to the recent downward revisions made by the IPA’s Bellwether report and ZenithOptimedia‘s global forecast.
Warc also predicts a higher 6.2% boost in global ad spend in 2012.
In 2011, India is expected to see the highest growth – up 17.5%, while double-digit growth is predicted for BRIC markets.
Advertising growth in the US and Western Europe, including the UK, is expected to rise between just 2.5% and 3.5% this year.
In terms of media, online advertising is set to grow by around 13% in the next year, compared with a 5.7% lift for TV adspend in 2011 and a 6.2% rise for outdoor, according to Warc.
Suzy Young, data editor at Warc, said: “Despite recent jolts to the world economy the recovery in the global ad market remains concrete. The latest Consensus Forecast shows impressive levels of growth, particularly across the BRICs. It is encouraging to note that many sources now point to a strengthening ad market. ”
Total Advertising Expenditure