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ZenithOptimedia downgrades U.S. ad forecast to 2.5% growth this year

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London—ZenithOptimedia downgraded its U.S. ad forecast to 2.5% growth this year from an earlier projection of 3.3% growth, citing the housing slump and the recent credit crunch.

The media agency also projected that TV advertising will capture 38.2% of global ad spending next year, driven in part by the 2008 Beijing Olympics.

ZenithOptimedia estimated that between 2006 and 2009, Internet ad spending will grow a total of 85% and increase its market share to 9.5% of global ad spending from 6.1%.

Online video and local search will drive 30% growth in Internet ad spending this year, according to the forecast.

Outdoor advertising will increase its market share to 5.9%, from 5.6%, between 2006 and 2009, ZenithOptimedia projected.

—Kate Maddox

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