Digital continues to dominate global adspend, but growth in this area is expected to slow down.
This is according to Group M's worldwide media forecast, This Year Next Year. The findings are an update of the company's previous forecast from December 2018, with figures revised downwards in the latest report.
Group M forecasts 3.4% global growth in advertising expenditure in 2019, compared with growth projections of 3.6% in the December edition. For 2020, Group M expects a slight acceleration on an underlying basis, with a forecast of 4.7% growth.
While internet-related activity continues to dominate global spend, capturing 50% of the world’s advertising spend in 2020, Group M said this share will flatten, with growth decreasing each year to eventually converge with global averages.
Brian Wieser, global president of business intelligence at Group M, said: "While the economic foundations supporting the advertising industry are somewhat fragile at this time, growth trends are holding up for now."
Group M published UK-specific adspend figures earlier this month. This week, Dentsu Aegis Network published its own forecast report, which is predicting global adspend growth of 3.6% in 2019 and 4.1% in 2020.