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BizReport : Advertising archives : April 07, 2015

2015 global ad spend to exceed half a trillion dollars

Marketers are predicted to spend more than half a trillion dollars globally in 2015 despite the lack of boost brought about by major events.

by Helen Leggatt

In 2014, several major events drove marketing spend globally including the FIFA World Cup, the U.S. mid-term elections and the Winter Olympics. However, even with no major events during 2015, marketers are expected to spend $540 billion globally, a 4.6% increase on last year, according to new figures released by media-agency Carat.

Jerry Buhlmann, CEO of Carat's parent company Dentsu Aegis Network, says their latest advertising forecast provides "increased optimism for the outlook for global advertising spending".

"With harder times behind us, negative growth markets are pleasingly now a minority, and collectively we can look ahead to 2016 with positive growth predicted for all key markets," said Buhlmann.

Digital media is also driving optimism and ad budget growth, found the report. Global digital spending is forecast to grow 15.7% this year compared with 2014, while growth among traditional media is slow or declining. Carat's figures show digital media making up nearly a quarter (24%) of global advertising spend, still a way behind the 42% forecast for television advertising.

"The strength of Digital continues to dominate discussions and the new distribution of spending. With a quarter of the global population now owning and relying on their smartphones daily, they are our second brain in our hands," says Buhlmann. "Mobile dominates the way consumers access information, view content, browse products and purchase goods and this is reflected in the innovative services and approach we are discussing with our clients."

The optimism extends into 2016 when Carat forecasts global ad spending will rise 5% YoY.

Image via Shutterstock

Tags: ad spend, advertising, forecast

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