Global advertising spending is forecast to grow over the next three years, surpassing 2008 levels in 2012, when it is expected to reach US$495 billion, ZenithOptimedia announced today, Reuters reported.
Meanwhile, 2012 will also be the year newspapers will be overtaken by the Internet as the second largest global ad medium, second to television, media buying agency network GroupM stated in a forecast published today, according to MediaGuardian. The GroupM projection expects the global ad market to get back on track faster, estimating it to reach $500 billion in 2012.
Ad spending is expected to grow 4.9 percent for 2010, 4.6 percent in 2011 and 5.2 percent in 2012 and 2013, thanks to a push from digital media and developing markets, the report by media buyer ZenithOptimedia found. By 2013, developing markets are likely to account for 35.9 percent of all ad spending, and China is also expected to pass Germany as the third-largest ad market, following the United States and Japan.
GroupM stated that it expects the global advertising economy to increase by 5.8 percent next year, up from its summer forecast, when it projected a 4.5 percent increase, Mediapost noted.