Advertising research house ZenithOptimedia has revised down its global advertising expenditure forecast from 4.6 percent to 4.2 percent growth in 2011, which would reduce adspend revenues by about US$2.4 billion.
The mid-year adjustment came as a result of the economic impact of the earthquakes in Japan and turmoil in the Middle East, according to Zenith. Japan is the second largest advertising economy in the world, while Egypt is the largest advertising economy in the Middle East.
Meanwhile, Zenith forecast that Internet adspend would overtake newspaper adspend as the second largest advertising sector after television, in 2013. Zenith is more bullish on the advertising economy for 2012 and beyond. The company predicts advertising expenditures will grow 5.8 percent in 2012, instead of the 5.2 percent it predicted in December.
The research firm also reports that it expects developing markets to increase their global market adspend share from 30.1 percent in 2010 to 35.1 percent in 2013. Three developing markets are on the rise on Zenith’s Top Ten Adspend list. China is expected to unseat Germany in the No. 3 position this year, while Brazil will overtake France in sixth place in 2011. Russia will rise from 12th to 10th place this year, and is expected to take seventh place by 2013.