NEW YORK Zenith Optimedia projects heightened gains for both the U.S. and global ad markets by the end of the year in its latest quarterly update of major-media ad spending.
Global and U.S. spending are each expected to rise 3.2 percent to $324 billion and $148 billion, respectively, according to Zenith data.
The media holding company had previously projected a global increase of 2.9 percent and a U.S. increase of 2.2 percent.
Zenith looks at spending in TV, newspapers, radio, cinema, outdoor and the Internet.
The holding company's analysis was especially bullish with regard to ad spending for spot TV.
"We are seeing a surge in advertisers going into the local marketplace based on a strong network scatter market," the forecast reported. "Automotive, furniture stores, home and department stores, banks and package goods are categories that have increased their spend in the first half of the year."
Still preparing his latest spending forecast is Bob Coen, senior vice president, director of forecasting for Universal McCann. In June, he revised downward his December forecast of total 2003 U.S. ad expenditures. Coen looks at all media including yellow pages, classifieds, direct mail and local media.
In terms of national advertising, Coen has has most recently projected U.S. growth of 5.2 percent in 2003 to $153 billion. In December, he had forecast growth of 5.3 percent to nearly $154 billion.