Adspend growth forecast cut to 2.3% for 2015

This compares with a forecast of 4.8% growth in the marketing intelligence service’s previous report published in December 2014, based on global adspend across 12 major markets. The company said it anticipated a further growth of 4.5% next year.

If inflation is taken into account, global adspend in real terms is expected to rise by 1.2% this year and a further 2.4% in 2016.

The 2015 outlook has been downgraded for half of its 12 major markets including the two largest: the US (-3.0pp) and China (-1.5pp). The biggest single cut was Russia (-15.1pp), which is suffering from low oil prices and decreasing consumer spend. 

Among its other findings were that the internet is forecast to become largest medium for advertising in 2016 (increasing 16.1% this year) while TV adspend is forecast to fall 1.9% this year.