London—Media agency ZenithOptimedia announced Monday it has revised its advertising growth forecasts upward, largely because of the continued momentum in online advertising.
Global advertising is predicted to grow 6.0% this year. That’s up from ZenithOptimedia’s original 5.9% growth forecast made in December.
ZenithOptimedia said online will account for 5.4% of advertising spending this year and 6.5% in 2008. It predicted online will overtake outdoor advertising in terms of share in 2007 and will catch up with radio by 2008.
The U.S. is the largest contributor to global ad growth, providing around one-third of the ad dollars added between 2005 and 2008, and accounting for 41% to 42% of global advertising, according to ZenithOptimedia.