Global growth in advertising set to lift Britain's media sector
Tuesday 20 July 2010
The surprise recovery of the global advertising markets in the past three months yesterday prompted a leading media agency to boost its forecasts for industry spending this year by more than 50 per cent, and to predict a further spike in 2012.
ZenithOptimedia, which is owned by the French advertising giant Publicis, upgraded its forecast for global advertising expenditure from 2.2 per cent to 3.5 per cent, worth $447.5bn (£294bn) this year.
In the UK, the agency doubled its growth estimates to almost 3 per cent, driven by growth in advertising at national newspapers. The group said the first five months had been "very positive" for print, with revenue growth from the nationals rising 9.5 per cent year on year.
The overall upgrade was prompted by a better-than-expected start to the year in the US and Western Europe, despite debt concerns over some of those countries in the eurozone.
Historically, sharp falls in advertising spending have been followed by a "rebound" three years later, the agency said. Three years after the 1991 slump, spending was up by 6.8 per cent. The same pattern followed the end of the dotcom bubble, with spending up 7.4 per cent.
ZenithOptimedia said: "We forecast a similar year of healthy growth in 2012," predicting spending of $492.6bn (£324bn). This would still be below the average growth rate of the past 25 years "reflecting the severity of the latest downturn".
- 1 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 3 Daily Show's Jon Stewart destroys Fox News for its Ferguson coverage
- 4 When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- 5 Terror threat level raised to severe as PM warns Isis risk could last for decades
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Botched ice bucket challenge leaves man critically injured after plane drops hundreds of gallons of water
Terror threat level raised to severe as PM warns Isis risk could last for decades
Isis 'A Message in Blood' video shows beheading of Kurdish man in Iraq
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- < Previous
- Next >
iJobs Money & Business
£50000 - £80000 per annum + benefits+bonus+package: Harrington Starr: Data Sci...
£450 - £500 per day: Orgtel: SAS Business Analyst, London, Banking, Credit Ris...
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£200 - £250 per day + competitive: Orgtel: KYC Analyst, Key Banking Client, Bi...