ZenithOptimedia, a media services company wholly owned by Publicis Group, has released their ad spend forecast for 2008, indicating that global spending will grow 6.7%, up from 5.3% in 2007. Online advertising is projected to grow 24% in 2008.

Global Growth

Some of the key drivers behind this growth are the
• Olympics in China,
• Presidential elections in the US, and
• Football in Europe.

Furthermore, developing economies have taken over as the growth engine for advertising, as growth in the more developed economies has slowed.

Online Spend

The internet is expected to nearly double its share of ad spend from 2006 to 2010. Cinema and outdoor will also gain share during this time period, but all other media will lose.

According to the study, online will over take radio advertising in 2008, and will overtake magazine advertising in 2010.

To learn more about getting the full study, see the ZenithOptimedia website.