ZenithOptimedia has again raised its guidance for the global advertising market and said that TV will gain market share over other mediums this year and next.
The upgrade is the fourth in a row after six consecutive downgrades from the media agency. It said that advertising has grown faster than it expected in all regions this year, most notably in Latin America. Zenith said that the second quarter was so strong in Brazil, with an overall increase of 57% year-on-year, that is has upwardly revised its forecasts for the region and now expects 17% growth this year.
â¨Globally, Zenith expects 4.8% growth in advertising revenues this year against its previous forecast of 3.5% growth. The 2011 forecast was increased from 4.5% to 4.6%. Zenith notes that advertising is falling as a proportion of GDP and this is not expected to change in the current economic conditions.â¨
TV, meanwhile, is gaining in terms of share of the overall advertising pie. Its share is forecast to rise from 39.2% in 2009 to 41.6% in 2012. The only other medium that is growing share is the Internet although in terms of cumulative advertising revenues it lags far behind TV.
â¨TV will generate US$180.4bn (130bn) in global advertising revenues this year compared with InternetÂs US$61.5bn. The respective totals are forecast to rise to US$191.3bn and US$69.9bn respectively next year.