GroupM forecasts 2008 adspend levels
Internet spending is expected to exceed 10% of global ad investment for the first time next year, while US and worldwide ad spending are also projected to grow.
GroupM released its predictions for 2008 on Tuesday in a report called ‘This Year, Next Year.’ Among other findings, the report says that, for the first time, Internet spending will exceed 10% of global adspend. Meanwhile, American advertisers are expected to boost adspend by $3 billion, thanks largely to the Olympics and the US presidential election. GroupM does not expect the current Writers Guild of America strike to have a significant impact.
Other projections for 2008 include:
• US adspend will grow 3.7% to $168.6 billion;
• Worldwide adspend will grow 7% to $479 billion, following an anticipated 6% increase in 2007;
• Television and the Internet will be the primary engines of additional new investment globally, at 50% and 30% respectively;
• Spending on marketing services (sponsorships and PR) is growing at a faster rate than traditional advertising;
• 5% of global ad investment will shift from developed economies to emerging ones in 2008.
The full report is available at: www.groupm.com.