Media agencies reduce global adspend forecasts

Be the first to comment
Adspend forecast: agencies review growth
Adspend forecast: agencies review growth

GroupM and Magna Global have softened their global adspend forecasts for 2012, to 6.4% and 5% respectively.

The revised forecasts show the WPP media powerhouse largely sticking with its optimistic stance five months after pencilling in 6.7% global growth for next year.

It has reduced its forecast for the US from 4.2% to 4%, but mitigated this by stating that Japan's advertising recovery "has proved substantially more vigorous and resilient than we forecast in our mid-year report".

Magna Global, the Interpublic-owned media specialist, has made a bigger change, taking 1.5% off its previous forecast.

It blamed the downgrade on "deteriorating macro-economic perspectives", but said growth would still be substantial due to a stronger than ever quadrennial effect and continued momentum in developing countries.

The Olympics, the European football championships and the US Presidential elections will bring an additional 1% to 2% on top of organic revenue growth across markets, Magna Global predicts.

Separately Publicis Groupe media agency ZenithOptimedia reduced its forecast from 5.3% in October to 4.7%, with just 2% growth for Western Europe. However, the agency network has also upwardly revised its outlook for UK adspend in 2011 after what it envisages to be a stronger than expected fourth quarter.

Follow Daniel Farey-Jones on Twitter @danfareyjones

Tags

SUBSCRIBE TO CAMPAIGN

Only £57 for 3 months

Includes every print & iPad edition, plus full access to Campaign online and other Brand Republic sites.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Campaign Jobs

Thousands of jobs across advertising, creative, marketing and media

Just published