London—Ad spending internationally will be less robust this year than initially anticipated, according to Barclays. The financial services company now forecasts that global ad spending will total $490 billion by year-end, an increase of 3.5% over 2011 but a half percentage point lower than Barclays had predicted in January.
Barclays also revised downward its global ad spending forecast for 2013, predicting a 4% growth rate next year, also down a half percentage point from its earlier forecast. The company cited issues in China, which has imposed TV airtime restrictions, as a factor.
Barclays is more bullish on ad spending in the U.S. Its April forecast of 4.6% growth this year and 2.3% next year were both revisions upward from the company's January predictions and remain unchanged.