Chinese ad spending set to power ahead
Print Edition
GLOBAL advertising expenditure is forecast to grow by a lower 0.2 percentage points to 4.2 percent this year, and China is set to more than double the pace of the increase in global advertising spending, media agency ZenithOptimedia said yesterday.
ZenithOptimedia forecast the slower growth because the appreciation of the US currency will erode the contribution from other fast-growing markets, and also on weaker expansion in Latin America.
The global advertising market is worth US$531 billion, and the 9.3 percent rise in China this year will more than double the pace of the global advertising spending, according to the agency’s latest quarterly Advertising Expenditure Forecasts.
But China’s advertising spending growth will fall to 8.9 percent next year and further drop to 7.8 percent in 2017 as the Chinese economy enters a “new normal.”
“China continues to grow, and media expenditure is expected to maintain an ongoing momentum in the digital and mobile sectors,” Chris Maier, head of research and analytics at ZenithOptimedia China, said in a statement.
By 2017, the Internet will take up 32.3 percent of global advertising spending, up from 24.4 percent in 2014, while TV’s share will fall from 39.1 percent to 36.8 percent.
“The Internet is quickly establishing itself as the dominant advertising medium, and on current trends will overtake television by the end of the decade,” said Steve King, ZenithOptimedia Worldwide CEO.
“Advertisers are shifting their budgets online to follow viewers who spend an increasing amount of time watching online video on their laptops, tablets and smartphones ... and new advertising technology will allow advertisers to target consumers more effectively,” King noted.
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