Worldwide, Mr. Coen is looking for spending to hit $412 billion, up 6.8% from $385.9 billion, while predicting a 6% increase in the U.S., from $172.8 billion to $183 billion.
`96 OUTLOOK ADJUSTED
At the recent semi-annual Advertising/Media Outlook Seminar sponsored by McCann parent Interpublic Group of Cos., Mr. Coen also adjusted his 1996 ad spending predictions, ratcheting the numbers down somewhat because of last winter's severe weather, the federal government shutdown and an early-year slump in consumer confidence.
Mr. Coen revised his 1996 projected U.S. ad spending figures to $172.8 billion from $174.1 billion, a 7.4% increase compared with the earlier 7.8% predicted rise.
He also adjusted 1996 worldwide ad spending figures to reflect an expected 7.2% increase, instead of 7.3%, for a total of $385.9 billion.
"The positive outlook I had in December still holds up for 1996," Mr. Coen said.
Balancing Mr. Coen's lower U.S. spending estimate is an increased projection for 1996 overseas spending. In December, he forecast spending of $202.9 billion but now expects the number to be closer to $213.1 billion due to increased spending, particularly in China, Mexico and the Czech Republic.