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Forecast: Ad growth to slow this year
Although global advertising increased just over 4% in 2016, experts believe ad growth will decelerate this year, thanks to economic and political worries. That's the key takeaway from PQ Media's new Global Advertising & Marketing Revenue Forecast 2016-20.
Researchers not that global ad revenues topped the $1 trillion mark in 2016, an increase of nearly 5%. But, 2016 was both a big sports year - with the 2016 Summer Olympics and the US Presidential Election - and without big events on the horizon this year, and with heightened global economic worries, experts believe 2017 will be a slump year for ad revenue.
"We have not seen such a strong combination of potential political and economic headwinds worldwide in many years," said PQ Media President Patrick Quinn. "Despite this volatile mix, the advertising & marketing industry remains relatively stable due to several key growth drivers, including the need to engage more effectively with on-the-go consumers through experiential and influencer marketing; the shift to omnichannel media campaigns that employ the strengths of both traditional and digital media; and the quick adaptation of new technologies and strategies to engage target consumers for extended periods in the right venue, at the right time and in the ideal mindset."
Some interesting points from the forecast include:
• More brands are expected to push budgets into platforms/channels with proven audiences - mobile beacons, digital health channels in doctor's offices, etc
• A bigger shift from online advertising into mobile channels
• Digital/alternative media increased 12% (2016
• Traditional media increased 1%
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