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Global adspend recovery confirmed
Global advertising expenditure is set to grow at the same rate in 2013 as in 2012, despite the lack of a "quadrennial effect", according to a new report which says the market is finally stabilising.
The latest quarterly Advertising Expenditure Forecasts from ZenithOptimedia, the media services network, forecast growth of 3.5% for 2013, 5.1% for 2014 and 5.9% for 2015.
"Expectations for this year have finally levelled after a long period of slow erosion by bad economic news," it said. The emergence of the Eurozone from recession was a major contributing factor to the brighter outlook.
Following a 5.2% decline in 2012, ZenithOptimedia forecast that the region would see a smaller decline of 4.3% in 2013 before moving into positive territory with 0.7% growth in 2014, increasing to 1.9% in 2015.
"The stability of global adspend growth this year – a year without big events like the Olympics and US elections – shows that the advertising recovery is on track, promising even stronger growth in 2014 and 2015," said Steve King, ZenithOptimedia's CEO, Worldwide.
As well as recovery in Europe, the report expected Rising Markets, defined as everywhere outside of North America, Western Europe and Japan, to continue to prosper.