Global advertising revenues will be lower than expected this year, but a mild recovery will start in 2010 and all territories return to growth in 2011, according to the latest forecasts from ZenithOptimedia.
After a worse than expected start to the year, it has downgraded earlier forecasts for ad revenue shrinkage in 2009 from 6.9% to 8.5%.
By category, finance, car and business travel advertising have suffered sharp declines while the fast moving consumer goods sector has proved resilient.
Zenith expects a mild recovery in overall ad revenues next year with an increase of 1.6%. However, the US and Western Europe will continue to suffer as the countries that went in to the ad downturn first experience the sharpest declines and recover latest. In 2011 all markets with the exception of Finland, Greece, the Netherlands, Norway and Taiwan, will return to positive territory. Â