London and New York—Two major media forecasters, MagnaGlobal and ZenithOptimedia, downgraded their global ad estimates for this year.
MagnaGlobal, New York, said global ad revenue will reach $480.0 billion this year, up 4.8% over last year. That was down slightly from a December forecast of 5.0% growth.
MagnaGlobal attributed the downgrade to Western Europe's “shaky economy.”
In North America, ad spending is expected to reach $165.0 billion this year, up 3.9% over last year and a revision from 3.7% growth MagnaGlobal had predicted in December.
ZenithOptimedia, London, said global ad spending will reach $502.0 billion, up 4.3% over last year. That forecast is down from a projected increase of 4.8% in March.
ZenithOptimedia said global ad spending slowed in April and May as advertisers became cautious about the world economy.
In North America, ad spending will reach $171.2 billion this year, up 3.6%, unchanged from the March forecast.