Dentsu Aegis Network (DAN) has updated its outlook for the global ad economy and despite slight downward revisions for the U.S., North America and Central/Eastern Europe, is generally upbeat for 2020.
“The pace of ad spend growth is decelerating from 4.1% in 2018,” the agency holding company says in the report, released late Thursday, noting, “In 32 out of the 59 markets included in our forecasts, growth is forecast to slow down in 2019, but globally growth will likely accelerate to 4.3% in 2020.”
Not surprising, the agency cites digital as the dominant media engine, forecasting it will expand to a 40% share of global ad spend, and will actually surpass television’s share in the U.S. this year.
“In 2019, TV is expected to make up just over one-third of global ad spend, its lowest share since our forecasts began in 2000,” the report notes, adding that the medium is nonetheless forecast to “show some signs of recovery by 2020,” a so-called quadrennial year in which worldwide TV ad spending is projected to expand 1.6%.
The TV share looks even brighter if you consider online video as an extension of the medium. DAN projects video will grow by “one-fifth” in 2019, making it the fastest-growing category within digital ad spending.