Ad Recession Will End in 2003, Predicts Zenith

09 December 2002

Monday’s opening session of the UBS Warburg media conference in New York will hear from Zenith Optimedia chief executive John Perriss that US advertising expenditure is poised to grow 1.9% in 2003.

According to Perris, TV will lead the way out of the wood on the back of increased spend by major marketers. The upsurge reflects a trend that began late this year, believes Perriss, who also forecasts that when the dust has settled 2002 will reflect a gain of 1.3% over 2001.

Perriss’s prescience will be echoed by Miles E Grove, chief operating officer and chief economist at strategic marketing consultancy the Barry Group. He will tell the conference that US newspaper spend is set to increase 5.7% in 2003 following a slide of 9% in 2001 and 0.5% this year.

Grove predicts that national advertising will lead the sector’s recovery, followed by retail advertising. By mid-year classified ads too should be sitting-up and taking nourishment.

Data sourced from: New York Times; additional content by WARC staff