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GroupM revises global ad growth down, Asia Strong
GroupM has downgraded its global advertising spend forecast from 6.3% to 5.1% this year, with strong growth showing in digital but newspapers and magazines continuing a downward slide.
The WPP-owned company that includes media agencies MediaCom, Mindshare, Maxus and MEC said an uncertain economy in Europe and the US has led to the drop with ad spend expected to hit $506.3bn in 2012, a drop from the $522bn predicted at the end of last year.
In 2013 GroupM is predicting that spend will rise by 5.3% compared to this year representing $533.2 billion.
Asia-Pacific remains strong with forecast spend of $169.1bn this year rising to $182.3bn in 2013.
In the US GroupM says spend will rise 3.6% in 2012 to $152.5 billion, down from 4% growth projected earlier.
Spend on digital has increased stronger than anticipated GroupM said, increasing by 18% this year to $99bn, compared to a previous 16% forecast. This represents 20% of the 2012 measured ad spend. In 2013 a hike of 22% is predicted.
In other media categories, TV accounted for 43% of measured global media investment in 2011, a record high. Print newspapers' share of advertising meanwhile hit a new low of 17% in 2011, and is expected to drop another percentage point in 2012 and 2013 while magazines also recorded a new low of 10% increase in 2011
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