While the global media ad spend is now forecast at slower growth than before, the North American segment remains healthy.
Overall, in 2015, total worldwide ad spending will reach $569.65 billion, according to eMarketer.
North America has the highest ad spending worldwide, with $195.26 billion predicted in 2015. However, by 2019 Asia-Pacific will overtake North America as the leading advertising market by $1.35 billion.
Growth in North America, too, is slower than previously forecast. Total ad spending will grow 4.5% this year, less than the 5.2% forecast in March. The downward adjustment is the result of lower-than-expected expenditures on TV, newspaper, radio and magazines in the US, according to eMarketer.
“Advertising investments in traditional media like TV, newspapers and magazines have been negatively affected by increased spending in digital formats… online editions for magazines and newspapers, and digital video replacing traditional TV,” says eMarketer analyst Shelleen Shum.