Warc Cuts Spending Forecast
With no Olympics, U.S. Election or other major event, the ad industry will take a hit next year, according to Warc’s latest International Ad Forecast.
Though spending is expected to
rise slightly more than 4% in 2013, the figure is a 1.5% decrease over the firm’s previous estimates made in June. The firm also reduced its estimates for ad revenues for 2012 by a half percent,
forecasting growth of 4.3%. In the U.S., ad revenues will row by 4.1% in 2012 (reaching a value of $153 billion), and will only expand by 2.5% in 2013.
"The global ad market has been boosted this year by quadrennial events; namely, the Olympics, the US presidential election and, to a lesser extent, Euro 2012,” said Suzy Young, Warc’s data editor, in a statement. "Next year will suggest by comparison, with advertisers having fewer incentives to spend when the underlying mood is generally one of caution."