Rosy outlook for global ad spend as growth forecast for 2014 hits 4.5%
The global advertising industry can look forward to a bumper few years according to the latest industry forecast, with sustained 3 per cent growth this year set to be topped by 4.5 per cent growth in the next.
The figures form part of new research from Carat, the media communications agency, which predict a solid market recovery across all regions by 2014.
Drilling down into the stats they do show a marginal decline from estimates made in March; when comparable figures were 3.7 and 5 per cent respectively, but Carat continue to anticipate positive growth in all regions.
For the UK things are looking particularly strong with 3.6 per cent growth this year outstripped by 5 per cent growth in 2014 – bucking the general trend for slow and steady growth across Western Europe.
Commenting on the forecasts, Jerry Buhlmann CEO of Aegis Media and Dentsu Aegis Network, said: “Carat's latest ad spend forecasts highlight the positive momentum and global growth for 2013, a year which has proven extremely challenging for some markets to maintain their 2012 ad spend levels, in light of the poor recovery of the global economy. In parallel to this, the new trend of a three-speed world is reinforced, with the rates of growth in the faster growing markets remaining ahead of steadily recovering markets, such as the US, followed by the struggling Eurozone markets.
"Looking ahead, Carat's forecasts do however predict that we are at a significant point of change with all regions expected to see a steady recovery in 2014, even those currently experiencing deep declines for 2013.”