US adspend will surge 7.8% this year, according to new forecasts from TNS Media Intelligence/CMR.
The ad research group believes advertisers will raise total outlay in major media to almost $140 billion (€113bn; £78bn) in 2004, with the Olympic Games, US presidential elections and economic recovery fuelling expenditure growth.
Certain sectors are in for particularly rapid expansion. Spanish-language TV is expected to be one of the best-performing media with 2004 ad revenue growth of 15.7%.
"While the knowledge that Hispanics have been the largest minority and the fastest growing one has been on people's minds for the past five or six years, advertisers have only recently been understanding that and they've accordingly been ratcheting up their spending to target that market," explained CMR president/ceo Steve Fredericks.
Also tipped for big rises in ad income this year are the internet (forecast to rise 12%) and spot television (11%).
"The 'internet bust' is way behind us, and therefore the online arena has had a chance to become [more acceptable] in marketers' eyes recently," Fredericks continued. "And with [Democratic presidential candidate] Howard Dean's enormously fruitful online campaigning, there is going to be even more attraction to that area than ever."
CMR's growth estimate is higher than other recent predictions. In December, ZenithOptimedia prophesied a 2004 rise of 4.7%, while Universal McCann's forecasting guru Robert Coen went for 6.9% [WAMN: 09-Dec-03].
Data sourced from: AdWeek.com; additional content by WARC staff