Zenith Optimedia: Despite Economic Woes, U.S. Ad Spend Will Grow

NEW YORK In its latest quarterly update of global major media advertising spending, Zenith Optimedia cited the “absence of recovery” in the global economy, but found U.S. advertisers virtually unfazed by high unemployment and the outbreak of war.

The media holding company is raising its previous projection made in Dec. 2002 that U.S. ad spending will increase by 1.9 percent to instead rise 2.2 percent to $146 billion from last year’s $143 billion. Globally, media expenditures will increase mildly by 1.5 percent to $241 billion from $237 billion, in keeping with its previous December outlook. In its spending forecast, Zenith looks only at ads meant for TV, newspapers, radio, cinema, outdoor and the Internet.