ZenithOptimedia decreases 2008 ad spend forecasts again

ZenithOptimedia has downgraded its 2008 ad growth forecasts for some countries, but overall global ad spending continues to rise, especially online.

by Helen Leggatt

Despite economic uncertainties, Internet advertising continues to rise ahead of expectations, according to ZenithOptimedia’s second reshuffling of online advertising figures in the last three months.

However, U.S. and Western Europe ad spend growth forecasts were decreased slightly – the U.S. down to 3.5% from March’s 3.7% and Western Europe down to 3.7% from 3.9%.

“Internet ad growth continues to run ahead of expectations. Faced with an uncertain economic future, Western advertisers are shifting even more of their budgets online, where the returns on their investment are obvious, and easy to quantify and fine tune,” said the research firm in a recent statement. “Internet ads are cheap, easy to target and to customize for particular audiences."