Following several recent reports that suggest a thawing revenue stream for media outlets, analysts at research firm ZenithOptimedia are ratcheting up expectations for the 2010 ad market.
AdAge reports that ZenithOptimedia has raised its estimate for growth in global annual ad spending to 3.5% from its previous forecast of 2.2%.
According to the forecast, by 2012, the third year after the 2009 downturn, growth should equal roughly 5.3% — a smaller rate of recovery than has followed previous downturns, ZenithOptimedia said.
In North America, the region that ZenithOptimedia upgraded the most, an earlier expectation that ad spending would decline 1.5% this year has yielded to a new forecast of 1.3% growth.
Despite the rosier outlook, the study also predicted that the North American ad recovery would lag other markets across the globe.