ZenithOptimedia Sees Global Ad Spending Slowing
July 13, 2011 at 4:16 AM (PT)
ZENITHOPTIMEDIA, part of the PUBLICIS GROUPE, is reducing its forecast for 2011, citing factors ranging from rising oil prices to European debt woes. THE NEW YORK TIMES reports ZENITHOPTIMEDIA, called for worldwide ad spending this year to increase 4.1% compared with last year. The previous forecast was for a gain of 4.2% compared with 2010.
Just last week, another forecast was revised (NET NEWS 7/7), as GROUPM lowered its forecast for 2011 ad growth globally, projecting volume to be $506 billion in spending. The earthquake in JAPAN was noted as a major cause of the slowdown. GROUPM wrote, "In the U.S., 2011 spending should hit $148 billion, then rise another 4.2% next year, which would still keep the U.S. market's share around 30%, though it would be a bit lower than this year."