Global advertising increase downgraded to 3.4% in Warc's latest spend report
The growth of advertising spend has been downgraded by 0.6 per cent, with the predicted increase in spend now expected at 3.4 per cent, according to Warc’s latest Consensus Ad Forecast.
The forecast has been downgraded from the global prediction it made in January, and although nine of the 13 markets covered by the report are expected to grow, only Australia and Japan have not seen a cut to the predicted spend.
The UK forecast to grow by 2.7 per cent this year, 0.3 per cent less than previously predicted, while China is projected to grow by 9.7 per cent and Russia by 12.1 per cent. Brazil expects growth of 8.1 per cent and Japan of 1.6 per cent.
The forecast for India is growth of 8.4 per cent, Canada of 3.3 per cent, while Germany will see a decrease of 0.1 per cent, France of two per cent, Italy of 8.1 per cent and Spain of 9.5 per cent.
Suzy Young, data and journals director for Warc said that the global advertising outlook for 2013 had worsened since the start of the year, most significantly in Western Europe, with only the UK advertising market expected to record annual growth in the region.
In terms of advertising sectors, online is expected to see growth of 13.9 per cent, while out-of-home growth is forecast at 3.1 per cent. Television is set for growth of 2.5 per cent, cinema of 1.6 per cent and radio of 1.4 per cent, while magazines are expected to see an advertising decline of 4.3 per cent and newspapers of 4.6 per cent.