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Media agencies have shrunk their ad spending forecasts, Publicis Groupe is clamping down on hiring and salaries, and MDC Partners CEO Miles Nadal is seeing a deceleration in marketer spending. Looks like 2012 will be another tough year.
Agency leaders, however, remain confident—at least publicly—that the market will continue to grow, albeit modestly and unevenly among brand categories. The forecasters at ZenithOptimedia, Magna Global, and Group M now predict between 4 percent to 6 percent growth in global ad spending next year—that is, flat to slightly up from this year.
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