Global ad spend set to reach over $520bn this year

 
Oliver Smith
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DIGITAL advertising will help grow the global advertising market by 5.3 per cent this year, higher than the 3.9 per cent growth seen in 2013, according to research released today by ZenithOptimedia.

Total global adspend will reach $523bn (£320.5bn) over the course of the year, boosted by 17.1 per cent growth in internet advertising.

“Internet advertising is expanding rapidly as new technology makes it easier for advertisers to reach the right people at the right time with the right message, at an efficient price,” said the media buying group’s worldwide chief executive Steve King. “The spread of ever more sophisticated mobile devices will help this expansion continue, sustaining steady growth in global adspend for the next few years.”

Meanwhile, the impact of trade sanctions on Russia will drag on the country’s advertising market which is expected to grow just 1.7 per cent as a result, down from the nine per cent ZenithOptimedia forecast in March. The Ukraine’s ad market is forecast to shrink by 32.5 per cent.

The Eurozone’s adspend is expected to be stable with 0.9 per cent growth helped by recovering markets in Ireland, Greece, Portugal and Spain.