Universal McCann raises '04 forecast; predicts continued growth in '05 also

MUMBAI: Worldwide media and communications company Universal McCann has raised its forecasts for 2004 US and global ad spend. Universal McCann senior VP and forecasting director Robert Coen has predicted continued growth in 2005 also.

According to Universal McCann senior VP and forecasting director Robert Coen, the global adspend will grow by 6 percent this year-up from his previous prediction of 5.8 percent growth-to $519.4 billion. In the U.S., he has revised his forecast from 6.9 percent growth to 7.3 percent. Coen predicts that U.S. ad revenues will hit $263.3 billion mark this year.

 

 

"Compared to last December, economic expectations are much brighter. We are more confident a sustained economic expansion is in place," Coen is quoted in media reports as saying. For 2005, Coen anticipates 5.9 percent growth globally, to $550 billion; and 6.5 percent in the U.S., to $280 billion.

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