DALLAS The automotive industry will continue to lead ad expenditures in 2006 with a nearly 8 percent increase to $34 billion, according to Schonfeld & Associates' annual study "Advertising Ratios and Budgets."
The Riverwoods, Ill., researcher also forecasts strong growth in advertising for semiconductors, pharmaceuticals and large, diversified food companies.
Nestle will remain the top ad spender in 2006 with a nearly 10 percent increase to $16 billion, according to the study.
Major food companies are expected to spend $28 billion in 2006, up 8 percent in ad growth, the study said.
Ad spending for wireless communications services will rise 9 percent to $13 billion, the study said. Cable and satellite TV services are also competing for a share of high-speed Internet access business and will spend $2 billion in 2006 for advertising, up 16 percent, according to the 29th edition of the study.