Global ad expenditure slated to rise; Zenith Optimedia

LONDON: Global advertising expenditure is now expected to rise by a total of 3.2 per cent in 2003. These new figures released by media buying giant Zenith Optimedia indicate a slight increase on previous forecasts.

By contrast, the Zenith Optimedia report states that the television advertising market is showing no sign of recovery and is unlikely to do so until next year.

The report states that the increase has driven by growth in the US economy and a surge in demand for poster advertising around the world.

The Zenith Optimedia report states that while the situation in the US continues to improve, Europe is still some months from following the US lead.

"The US was the first in to the advertising downturn and is the first out. In Europe we're seeing a bit of a delay. But there's also been a bit more spending in Europe than expected," said Jonathan Barnard, knowledge management manager at Zenith Optimedia.

In the UK, Zenith predicts growth of just 0.5 per cent on the previous year, a drop in real terms of 2.4 per cent once inflation is taken into account. Demand for press advertising remains slow with "no real growth in prospect" according to the report, with sectors such as financial advertising down 14 per cent since the beginning of the year.

The report adds that the billboard market, shot up by 17 per cent in the first quarter of the year 2003 and by 6 per cent in the second quarter. The growth, which Barnard said was chiefly down to improvements in the quality of stock offered by outdoor contractors and new advertisers using the medium for the first time, has led to Zenith raising its sector growth forecast for the year from 6 per cent to 8 per cent.

Television advertising spend will witness a growth in 2004 and this will be driven by football's 2004 European Championships in Portugal.

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