Carat has upped its projection for U.S. ad spend growth in 2011, and has done a bit of forecasting for 2012. Carat had projected a 1.7% increase 2011 back in August, but now expects a 3.7% increase domestically. The media agency said the U.S. market has been recovering at a better than expected rate, with auto continuing strong.
TV and online are forecast to grow this year, plus digital OOH spend. On a global basis, TV is projected to grow 6.7% in 2011 and 6.5% in 2012. Radio is also expected to grow.
In 2012, TV is expected to increase its share of worldwide ad spend to 46.3%. Newspapers will still have the second-largest share at 15%. Carat projects a 5.9% increase in U.S. ad spend next year, with the presidential campaign and London Olympics.
Said the Carat report: “TV remained remarkably resilient through 2010 — a trend that is set to continue through 2011 and 2012. The scarcity of an alternative powerful mass-reach media and technological developments has helped protect the medium and ensured that TV has remained relevant for consumers and advertisers.”
China is projected to have the greatest total ad spending growth this year among all measured countries (15.3%), with Russia set to lead all measured countries in 2012, with a 17.4% growth.