In its latest media advertising forecast, ZenithOptimedia predicts global ad expenditure will grow by 5.5% in 2014, reaching US$537 billion by the end of the year.
Radio’s share of advertising is expected to remain roughly stable, according to the report (see chart right, click here to enlarge), but the news is not as good for all media sectors.
The study, which has been tracking ad spend since 2012, says: “Our confidence in this continued recovery in adspend rests on the assumption that economic conditions remain relatively benign, and the Eurozone in particular continues to recover from recession.”
America is the world’s biggest advertising market, with Australia coming in 7th. Australia’s overall ad spend is predicted to grow to $14.3 million by 2016.
The internet is still the fastest growing medium, with internet advertising growing by 16.2% in 2013. The report predicts a continuing growth rate of 16% per annum for internet advertising worldwide.
Magazines and newspapers will suffer continuing contraction (negative growth) in the amount of advertising money spent on them between now and 2016, according to the report. Worldwide radio advertising is forecast to grow slightly over that period.
