Media agencies reduce global adspend forecasts
GroupM and Magna Global have softened their global adspend forecasts for 2012, to 6.4% and 5% respectively.
Adspend forecast: agencies review growth
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
This article was first published on mediaweek.co.uk
Latest jobs Jobs web feed
- Account Director- Exciting Online Content Marketing Company- Up to £70,000 plus OTE Cedar Scott Up to £70,000 basic (up to £90,000 OTE) plus share options, Central London
- Category Manager Pearson Competitive salary & performance related bonus & benefits, Central London
- Global Product Manager Evans Taylor c£50k - c£60k p.a. plus car, bonus and benefits, North East of England or Central London
- Retail Marketing Manager - Maternity Cover Tottenham Hotspur Football Club Up to £35,000 pro-rata, Tottenham and Enfield
- Brand Manager Radisson Blu Edwardian, London Competitive , South Kensington, London
- ACCOUNT DIRECTOR/SENIOR ACCOUNT DIRECTOR - BTL/SP/Brand Experience - London - £45 - £55k plus bonus Judi Patton £45K-55K plus bonus, London/Greater London
Integrated digital marketing offers huge opportunities to engage, servic...
Mobile marketing is coming of age, and the pace of change is now exponen...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...