The 1999 ad spending outlook appears more promising than originally anticipated. Reporting today at New York's University Club, ad forecaster Robert J. Coen unveiled revisions to his predictions for the current year and offered a peek at the new millennium. The actual performance of 1999's first quarter--with spending at $56 billion nationally--defied the previous notion that the year would serve as a drooping hammock between two years of outstanding growth. The new outlook for 1999 has ad spending up 6.1% to nearly $214 billion, said Mr. Coen, senior VP-forecasting at McCann-Erickson World-wide. Earlier this year, he anticipated '99 spending would rise 5.5%. Bolstered by the Olympics and presidential elections, the year 2000 is expected to bring a 7.5% hike in U.S. ad spending to $230 billion.
Copyright June 1999, Crain Communications Inc.