Global ad market falls deeper into doldrums

The global advertising market will decline by 9.9% this year, a sharper drop than the 8.5% fall predicted in July, according to media buying agency ZenithOptimedia.

The latest figures follow a dire first half for the advertising business. ZenithOptimedia says the market will fall by 12.6% in North America, 11.2% in western Europe and 20.9% in central and eastern Europe, while Asia is experiencing a drop of only 3.1%.

The agency predicts that the industry will return to growth in 2010, albeit by only 0.5%, but that North America and Europe will continue to decline for the next year.