In its full year forecast for 2003, New York-headquartered CMR/TNS Media Intelligence expects advertising expenditure to rise to $117.5 billion (€111.69bn; £73.33bn) – a 3.3% improvement on 2002.
Comments CMR president/ceo Steven J Fredericks: “For 2003, we see a continued rise in ad spending. The spending growth seen in the last half of 2002 was clear evidence of a market rebound, and we believe the current economic upturn, while not robust, will continue to be reflected in the modest growth of advertising.
“Spending in 2002 benefited from key drivers such as the Olympics and the recent election season,” Fredericks continued. “Even though 2003 will not have those market stimulants, we are expecting the year to show improved year-over-year growth.”
However, lower growth rates are expected as the year progresses into quarters three and four. This will reflect last year’s gradual second-half recovery, driven in part by election spending.
All major media will benefit from the predicted upturn, Spanish-language TV in the vanguard with a forecast growth of 9.2% over 2002 - in line with demographic trends and the eagerness of marketers to exploit this robust market.
Media sectors accelerating into the revenue fast lane will be the internet and cable TV – thanks to an increasingly techno-savvy public and viewing gains for cable and satellite TV.
Data sourced from: Daily Research News Online; additional content by WARC staff