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