GroupM downgrades 2014 ad-spend forecast

Global ad expenditures will increase 4.6 per cent in 2014 to $531 billion, according to GroupM’s latest spending forecast – a downgrade from the 5.1 per cent growth that the firm initially projected for 2014 back in August. But persistent economic sluggishness in a number of markets worldwide prompted GroupM to issue the downwardly-revised forecast.

In the US, GroupM reconfirmed its earlier projection for next year that spending will be up moderately with a gain of 2.9 per cent to $161 billion. The increase is due largely to spending earmarked for the Winter Olympics in Sochi, Russia.

GroupM’s forecast also predicted that 2013 worldwide ad spending will hit $508 billion, a 3.3 per cent increase over 2012 spending of $492 billion. In the US this year spending will climb just 1.8 per cent to $156.3 billionhttp://advanced-television.com/2013/12/11/groupm-downgrades-2014-ad-spend-forecast/