Western ad markets continue to slow

ZenithOptimedia said global advertising spending will grow 6.6% this year, up slightly from the 6.5% growth predicted in its March forecast. Growth forecasts have been downgraded, however, for North America (from 3.7% to 3.5%) and Western Europe (from 3.9% to 3.7%).

The media agency said economic uncertainty in developed markets is accelerating the shift of budgets to accountable Internet advertising. ZenithOptimedia said it expects Internet advertising to grow 26.7% this year and break the 10% share barrier, a year earlier than its forecast three months ago.

By Carol Krol

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