London—Global ad spending will increase 3.4% this year, according to a downgraded forecast from media intelligence firm Warc. The prediction is down from a January forecast of 4.0% growth.
Next year, Warc projected, global ad spending will rise 5.4%.
In the U.S., ad spending will increase 1.8% this year, according to Warc's latest forecast. In January it had predicted a 0.3% decline.
The fastest-growing medium globally this year will be the Internet, with ad spending up 13.9%, followed by out-of-home (3.1%), TV (2.5%), cinema (1.6%) and radio (1.4%), Warc projected.
This year, ad spending in newspapers will be down 4.3% and ad spending in magazines will be down 4.6%, according to the latest forecast.