Fallout from the devastating earthquake that ravaged Japan last month and the lingering tensions and political turmoil across the Middle East will take their toll on global ad spend for the remainder of 2011.
That’s according to ZenithOptimedia, which says “these events had immediate consequences for advertising in the affected markets.”
Consequently, this week ZenithOptimedia downgraded its global ad spend forecast from 4.6% growth this year to 4.2%.
In Egypt, for example, ZenithOptimedia suggests that “there was almost no advertising on TV during the revolution,” a trend that has continued to the present.
“Our first estimate is that these one-off events have knocked about US $2.4 billion off this year’s global ad expenditure,” the report notes.
“The underlying recovery remains healthy, though, and we have upgraded our forecast for 2012 from 5.2% to 5.8%,” ZenithOptimedia concluded.
The report estimates that developing markets will increase their share of global ad expenditure from 30.9% in 2010 to 35.1% in 2013. In the process, the Internet will become the world’s second-largest advertising medium in 2013, officially overtaking newspapers.
To read the full report from ZenithOptimedia, click here.