Libertyville, Ill.—Food and pharmaceutical companies will lead ad spending next year, and most industries will continue to show modest growth as the economy slowly recovers, according to a new report from research company Schonfeld & Associates.
The 35th annual report, “Advertising Ratios & Budgets,” covers ad spending for more than 5,000 companies in 330 industry sectors.
According to the report,
large, diversified food companies are expected spend $35.3 billion on advertising next year, up 3.7% from this year. Pharmaceutical companies will spend an estimated $28.0 billion next year, up 7.6%.
Other industries that will increase ad spending next year include wireless communications companies (up 2.8%, to $20.6 billion); telecommunications service providers (up 0.7%, to $19.0 billion); and retail stores (up 3.1%, to $7.2 billion).
The automotive industry will decrease ad spending by 12.9% next year to an estimated $15.0 billion, the report found.