WPP believes UK ad market is growing again, U.S. static
A further sign of increasing confidence in the world advertising market has come from agency Group M in its latest forecast for British ad spend.
Group M now says will UK advertising expenditure will swell 4.2 percent this year and three percent next year – despite having predicted in December that there would be no growth at all in 2010.
Much of the growth now expected will be driven by advertisers returning to TV at the same time as airtime rates go up, according to Group M, which is part of the WPP empire and includes agencies such as MediaCom and Mediaedge:cia.
But outdoor will also significantly outperform the market as a whole, rising about seven percent this year and six percent in 2011.
The main loser will be print, with revenues in regional press continuing to erode.
Overall, spend on advertising in Britain will reach £11.85bn ($17.4bn) this year, according to Group M.
The agency group has also adopted a more positive outlook for the U.S. ad market, where it now expects zero growth this year after earlier forecasting a four percent decline.
In Australia, meanwhile, media firm Fusion Strategy has forecast growth of just over nine percent in advertising spend this year.
www.groupm.com
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