Global ad spend to top $500 billion in 2011: Group M
The agency parent co's revised 'This Year, Next Year' report says Canada is among nations expected to contribute the largest dollar amounts in 2011 ad spend growth.
Group M has released a revised version of its 2010 ‘This Year, Next Year’ report, indicating that it expects global ad spend in measured media to exceed $500 billion in 2011 – for the first time ever.
Since the last ‘This Year, Next Year’ report, released in June, there has been a ‘significant rebound in advertising spending in the US,’ Rino Scanzoni, CIO, Group M, said in a release, adding that TV and online have been the top beneficiaries of the surge in spend.
The report also noted that digital media continues its climb in the spending ranks, now challenging – for the first time in the report’s history – newspapers as the world’s second most preferred medium. Expected to contribute 37% of global ad growth in 2011, online advertising could take over the printed page in 2012 with a forecasted $90 billion in spend.
Also revised in the report is 2010′s total worldwide spend, which is now projected to increase 5.9% over the $448 billion spent in 2009. In the previous edition of the report, growth was forecasted to be 3.5% in 2010.
Canada is listed in the report as one of the countries expected to contribute the largest dollar amounts to 2011 ad spend growth – adding over $1 billion – alongside Russia, Indonesia, India, Brazil and Japan. China and the US are expected to add at least $5 billion each.
It seems 2010 has been a big comeback year: the report noted that almost all the dollars lost globally in 2009 have been recovered, thanks to bullish performance in categories including toiletries, cosmetics, automotive, beverages, retail, financial, entertainment and food.
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