NEW YORK – ZenithOptimedia, a leading advertising forecaster, said yesterday it sees growing signs that the sharp downturn in ad spending worldwide could bottom out this year, The Associated Press reported.
The firm, a division of the French advertising giant Publicis Groupe, said retail and consumer product advertising spending posted a slower decline year-over-year during the second quarter, although the finance, car and business travel categories all continued to drop sharply, the AP said.
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“The second quarter was not as tough as the first quarter,’’ ZenithOptimedia said in a report. “We have held our expectations for the rest of the year steady, as signs emerge that the downturn is approaching its nadir.” The firm now expects ad spending to post a mild recovery in 2010 and a stronger upturn the year after that, according to the AP.
Nevertheless, for the third time ZenithOptimedia lowered its forecast for global ad spending this year, saying it now expects the total to fall to $456.5 billion, down 8.5 percent from 2008, the AP said. The firm projects U.S. ad spending will fall even more, by 10.6 percent to $154 billion, its lowest level since 2003.
