Zenith Optimedia Raises Forecast To 3.6% Growth
March 14, 2012 at 3:45 AM (PT)
ZENITH OPTIMEDIA raised its forecast for advertising growth in the U.S., with the biggest growth expected to happen in cable TV and the Internet. MULTICHANNEL.COM reports "the media buying agency projects a 3.6% increase in total U.S. ad spending for 2012. Total TV spending is expected to rise 5.1% in 2012, with gains of 3.1% expected in 2013 and 4.2% in 2014."
"As we move further past the recession, we expect continued increases of 3.8% in 2013 and 4.8% in 2014. Fortunately, most of the large financial, retail and automotive spenders have returned to the marketplace," ZENITH OPTIMEDIA said in a report released TUESDAY. "We continue to see TV dollars moving from network to cable, lineups."
The U.K.-based company sees BRITISH newspapers, magazines and outdoor advertising suffering downward revisions -- but radio is given a boost.
Among the reasons the report cites for the changes are a return to the ad marketplace for advertisers in big categories like "financial, retail and automotive."