When it comes to global ad spending, eMarketer has recently revised its forecasts.
Though media ad spending will grow, eMarketer now predicts it will be at a slower rate than previously forecasted.
“In 2015, total worldwide ad spending will reach $569.65 billion,” reports eMarketer. “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 is expected to grow 5.7 percent 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,” notes eMarketer. “Global digital ad expenditures will jump 18.0 percent in 2015 to reach $170.17 billion, or 29.9 percent of the total advertising market.”
Growth estimates vary widely across regions. Western Europe will experience the slowest growth and Latin America should enjoy the fastest, based on a variety of factors, including economic growth and the level of digital media maturity.
Though North America has the highest ad spending worldwide (with $195.26 billion predicted in 2015), by 2019 Asia-Pacific is expected to overtake North America as the leading advertising market by $1.35 billion.
“Growth in North America is slower than previously forecast,” notes eMarketer. “Total ad spending will grow 4.5 percent this year, less than the 5.2 percent forecast in March. The downward adjustment is the result of lower-than-expected expenditures on TV, newspaper, radio, and magazines in the U.S.”
The only winning ticket? Digital, it appears.
“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 replacing traditional TV,” said eMarketer analyst Shelleen Shum.