LONDON: Publicis Groupe's global media buying network ZenithOptimedia has revised its world adspend forecast for the period through to 2010.
The media specialist has downgraded its combined 2008 growth forecasts for North America and Western Europe from 4.4% to 3.8%, as the credit crunch drains consumer and business confidence.
However, ZO sees growth continuing to strengthen elsewhere, and has accordingly increased its 2008 forecasts for the rest of the world from 10.9% to 11.1%
Among its key predictions for the period 2008 to 2010 ...
- Ad expenditure growth in North America and Europe in 2008 has been downgraded to 3.8%, but upgraded to 11.1% across the rest of the world.
- Developing market dynamism will maintain global ad growth above ten-year average despite sluggish growth in the developed world.
- Developing markets will contribute 63% of ad expenditure growth between 2007 and 2010, and increase their share of the global ad market from 27% to 33%.
- Asia Pacific to overtake Western Europe in 2010.
- Internet to account for 9.7% of world ad expenditure this year and 12.3% in 2010.
Data sourced from ZenithOptimedia (UK); additional content by WARC staff