The growth in European spot advertising expenditure is set to decelerate between 2003 and 2012, predicts a new report from ZenithOptimedia.

As revenue growth slows from its average of 43% in the last decade to 33% (in real terms) over the next ten years, pay-television earnings will overtake those of broadcasters solely reliant on advertising. ZO forecasts a ten-year income growth of 58% for subscription-based companies.

The media agency also believes TV's share of total European ad revenue in 2003 marginally overtook that of newspapers, both sectors snatching in the region of 33%.

But Europe's public service broadcasters did less well in the growth stakes than their wholly commercial counterparts, the PSBs' share of TV ad revenue across the five largest markets falling from 24% in 1993 to 17% today.

"Nearly all this decline comes out of France, Germany and Spain, where private channels have successfully targeted younger viewers, often with imported and reality-format content, and commanded big premiums for their airtime as a result," opines the report.

Data sourced from: BrandRepublic (UK); additional content by WARC staff