New York—Global ad spending reached an estimated $519.0 billion last year, up 5.4% over 2011, according to revised figures from eMarketer.
In May, eMarketer projected global ad spending would total $538.0 billion for the year, up 6.8% over 2011.
The company revised that forecast due to continued economic uncertainty in many parts of the world.
Despite the revision, eMarketer projected global ad spending will continue to increase in the low single digits over the next few years, reaching a total of $628.2 billion by 2016. did they include a CAGR for the five years?
The fastest-growing ad market last year was Latin America, in which ad spending increased more than 11.0%, to $34.7 billion.