Growth in advertising spend in Europe is expected to drop to 7.8
per cent this year in the wake of increased spending in the US market,
according to forecasts by Zenith Media.
Zenith estimates growth in European adspend will drop to 6.3 per cent by
2002 when total spend will be dollars 98,649 million, compared with
dollars 86,984 million in 2000.
Adspend growth had accelerated to 8.5 per cent in 1999 when a total of
dollars 80,705 million was spent on media including TV, press, radio,
cinema and outdoor.
This contrasts with US expansion, which Zenith attributes to ’towering
consumer confidence’, where adspend showed its highest growth since 1988
to 8 per cent in 1999. Zenith predicts further growth of 8.1 per cent in
2000, and 6.0 per cent in 2001.
TV is the main driver of adspend growth. But radio is the other
fast-growing medium in Europe, benefiting from better research and
Although the UK has had a good early 2000 and should boast 7 per cent
growth this year, Zenith warns it is likely to slow to 4 per cent by
Adam Smith, the head of knowledge management at Zenith, said: ’While the
fastest growers are likely to slow down through to 2002, the laggards
should speed up.’