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GLOBAL – December 13, 2013 – Worldwide ad spending is set to increase in the coming year, according to the forecasts of several media agencies, who point to mobile as well as seasonal events as reasons for growth.
Earlier in the year, GroupM predicted a 5.1 percent hike in global ad spend, but revised it downward to 4.6 percent, due to the continuing economic crisis in Europe and the U.S.
In their biannual worldwide report "This Year, Next Year," GroupM said that global adspend will increase $531 billion in 2014, owing to events such as the Winter Olympics in Sochi.
The agency also reported a 14 percent leap in digital spending for 2014, which comes at the expense of print media. GroupM also said that television’s share of global adspend is stable at around 45 percent.
Carat also reported positive forecasts for 2014, predicting a 4.5 percent growth, down from its forecast of 5.0 percent in March this year. The lower forecast owes to the slow upturn of the global economy, though the agency expects a market recovery in the coming year.
According to Carat, the forecasts reflect the growth of digital media’s market share as it boasts a growth rate of 15.6 percent–over 10 percent higher than any other media.
Meanwhile, in their 2014 forecast, ZenithOptimedia said that mobile would be the driving force in global adspend, which they predict will increase by 5.3 percent next year.
Apart from the growing strength of mobile, ZenithOptimedia also chalks adspend increase up to the Eurozone’s economic recovery, as well as the Winter Olympics, the FIFA World Cup, and the mid-term elections in the United States.
