MUMBAI: With companies across regions maintaining to cut media budgets in the first half of the year, Aegis Group-owned media agency Carat has downsized its 2009 predictions on global advertising spending that it had earlier made in March.
The agency now expects the spending to drop 9.8 per cent, as against its previous forecast that showed a drop of 5.8 per cent. It, however, predicts the industry to witness slight growth in 2010.
|
"Modest growth is forecast for 2010, with the World Cup expected to benefit the market, however a recovery is not forecast to be properly underway until 2011," Carat said. |
|
Talking about the UK market, Carat predicts that its ad market will slump by 12 per cent as against its previous forecast of 7.1 per cent. While television advertising will fall by 12 per cent too this year, radio will fall by 12.6 per cent and outdoor by 12.2 per cent. |
|
The new report also states that newspapers and magazines have been hit the hardest, down 20.3 per cent and 16.3 per cent respectively. |
