GroupM Revises 2013 Global Ad Spending Downward

GroupM revised its global 2013 adspending forecastdown to 3.4 percent growth to $507 billion, compared to the 4.5 percent increase predicted in December.

GroupM said the revised global estimate reflects the continuing economic decline in the Eurozone, particularly in Italy, Spain, Portugal, Greece and Ireland. The company said it expects that group of countries to record an 11 percent drop in 2013 measured media. In releasing the latest forecast, GroupM Futures director Adam Smith said stabilization in that region remains “elusive”.

The Eurozone accounted for 7 percent of global advertising investment before the continent’s economic crisis and now accounts for only 3 percent although the area’s GDP has “changed little” during the same period, according to GroupM. This year, marketers in Western Europe are predicted to decrease spending by 2.4 percent, to $97 billion, compared to 2012. Read more http://www.adweek.com/news/advertising-branding/groupm-revises-2013-global-ad-spending-downward-151844?utm_source=Sailthru&utm_medium=email&utm_term=AWK_AdBrand&utm_campaign=Adweek%20Newsletter%20Template%20-%20Advertising%20%26%20Branding%20-%20July%2012