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INVESTMENT BANK FORECASTS AD SPENDING INCREASE

Up 4.8% Thanks to Strong Second-Half Broadcast

Published on .

NEW YORK (AdAge.com) -- Advertising will close the year up 4.8% over 2001, said media investment bank Veronis Suhler Stevenson.

In its annual Communications Industry Forecast, it said 2002 ad spending will hit $608.5 billion thanks to strong second-half broadcasting results, particularly broadcast TV, which it predicted will rise 4% this year, and cable TV, up 9.5%.

Other media forecasts: Local radio, up 3%; national radio, up 4%; newspapers, up 3.2%; magazines, down 3%; and business-to-business publications, down 11.7%.

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