New York—Merrill Lynch on Wednesday lowered its global advertising forecast for this year to 4.3%, down from 4.9%, based on slower growth reported by many traditional media, including newspaper, cable, magazines and Yellow Pages. The Internet remains the bright spot, however. In its new 2006 forecast for Internet advertising, Merrill sees 29.4% growth, compared with an earlier estimate of 29.1%.
“A strong first half has helped buoy growth for this medium this year with acceleration in certain online formats such as branded and classifieds,” said Lauren Rich Fine, research analyst, in the company’s Industry Overview report published Wednesday.
In 2007, Merrill predicts a 3.5% global ad growth, a reduction from its earlier estimate of 4.1%.