Ad Industry Projected to Expand at “Fastest Rate Ever”
The U.S. and worldwide ad economies are now projected to expand at their fastest rate ever, according to a consensus, as well as individual estimates released by three of Madison Avenue’s leading forecasting units, reports MediaPost.
The new outlooks from IPG Mediabrands’ Magna, WPP’s GroupM, and Publicis Media’s Zenith units revise the ad-growth consensus up more than three percentage points to +19.8% for the U.S., and up four percentage points to +17.1% for worldwide ad spending in 2021.
Moreover, the projected record ad expansion in 2021 comes on a more moderate consensus estimate for 2020’s U.S. and global ad recessions, which now stand at -2.0% and -3.8%, respectively.
“I think this is possibly the fastest growing year ever in terms of the ad industry, and that is well worth noting,” said GroupM Business Intelligence Global President Brian Wieser, adding that he trolled through reams of historical data, including legendary Interpublic forecaster Bob Coen’s archives going back through the 1970s, and could not find a better growth rate.
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