Global Advertising Spending Expected To Reach $570 Billion This Year
Market research firm eMarketer reports that global advertising spending is forecast to reach $569.65 billion in 2015, a downward adjustment from its March forecast of $577.79 billion. The shift is due to lower than expected ad spending in North and Latin America and Western Europe.
North America accounts for the largest share of 2015’s ad spending at $195.26 billion, with less than expected expenditures in TV, newspaper, radio and magazine ads in the U.S. Growth in ad spending has been lowered from 5.2 percent predicted in March 2015 to 4.5 percent. eMarketer expects the region to be overtaken by Asia-Pacific by 2019.
“Advertising investments in traditional media like TV, newspapers and magazines have been negatively affected by increased spending in digital formats, such as online editions for magazines and newspapers, and digital video is replacing traditional TV,” says eMarketer analyst Shelleen Shum.
Digital advertising will account for 29.9 percent of the total advertising market in 2015, up 18 percent from 2014 to $170.17 billion. North American advertisers are responsible for $62.07 billion of that total, the largest overall digital advertising market. This is a 16.8 percent increase over 2014.
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