Total media ad spending growth slows, will reach $569.65 billion
This figure has been adjusted downward from $577.79 forecast in March, due to lower-than-expected ad spending in Latin America, North America, and Western Europe.
Spending on paid media worldwide will climb 5.7% in 2015, propelled by increased investments in digital advertising. As digital changes the way people access and consume media, it is also driving advertiser optimism and ad budget growth. Global digital ad expenditures will jump 18.0% in 2015 to reach $170.17 billion, or 29.9% of the total advertising market.
The outlook for the global ad spending through 2019 remains optimistic, with advertisers gaining confidence as stability returns to most major economies. Worldwide ad spending will reach $719.20 billion by the end of 2019.
However, the pace of growth will vary widely across regions—with Western Europe seeing the slowest growth and Latin America experiencing the fastest, based on a variety of factors, including economic growth and the level of digital media maturity.
North America has the highest ad spending worldwide, with $195.26 billion predicted in 2015. However, by 2019 Asia-Pacific will overtake North America as the leading advertising market by $1.35 billion.
Growth in North America is slower than previously forecast. Total ad spending will grow 4.5% this year, less than the 5.2% forecast in March. The downward adjustment is the result of lower-than-expected expenditures on TV, newspaper, radio and magazines in the US. ■