Global ad spend projected to hit pre-crash growth rates
A new report published by ZenithOptimedia has painted a rosy outlook for global advertising spend, projecting a rise in growth rates from 3.9 per cent in 2013 to 5.5 per cent in 2014 before rising further to 5.8 per cent in 2015 and 6.1 per cent in 2016 in its latest Advertising Expenditure Forecasts report.
This upturn would mark a return to pre-crisis levels of growth courtesy of a general improvement in the global economy, an increase in programmatic buying and a rise in mobile advertising.
The internet remains the fastest-growing advertising medium at 16.2 per cent in 2013, rising to 21 per cent a year by 2016 with traditional banners and other standard formats rising by 16 per cent a year on the back of programmatic buying.
Elsewhere mobile advertising is now increasing six times faster than desktop internet, averaging at a rate of 50 per cent between 2013 and 2016 – although television will remain the dominant medium, attracting 40 per cent of spend in 2013.
Steve King, ZenithOptimedia’s CEO, Worldwide, said: “Advertisers are gaining in confidence as the world economy returns to stable growth. They will find plenty of opportunities to generate strong returns on their advertising investment in the fast‐growing digital media, but should remember that television has lost none of its power to reach large and engaged audiences.”