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ZenithOptimedia downgrades ad spending outlook for North America and Europe

Published on .

London—Media agency ZenithOptimedia, part of Publicis, Monday announced it has downgraded its ad spending growth forecast for North America and Europe from 4.4% to 3.8% for this year but upgraded its forecast for the rest of the world to 11.1% from its earlier prediction of 10.9%.

The adjustments were made based on a number of macroeconomic factors, especially the credit crunch, ZenithOptimedia said.

The company said it has again “substantially increased our forecasts for Internet advertising as it has continued to exceed our expectations.” By 2010, Internet ad spending will reach $67 billion and account for 12.3% of the ad market, it said.

—Carol Krol

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