Online and TV ad spending ''to drive market in 2008''

Ad spending in US-measured media could grow by as much as four per cent next year, a new report has suggested.

Marketing Charts reported that a new study by Group M showed that advertising spending is also expected to increase by three per cent during the year.

Overall, the report estimated that US ad spending will swell by 3.7 per cent to $168.6 billion. What´s more, worldwide spending will rise by 6.8 per cent - to some $479 billion.

In particular, TV and internet advertising will be the primary engines of global ad growth - recording 50 and 30 per cent increases respectively.

Group M futures director Adam Smith told the publication that marketing services, such as sponsorships and public relations, are currently growing at a faster rate than traditional ad options.

Interestingly, the report also predicted that internet ad spending will exceed ten per cent of global ad investment in 2008 and that between 65 and 70 per cent of this will be search driven.

It also revealed that online advertising is set to become the largest single medium in Sweden, the first time this has happened anywhere in the world. Internet marketing is also going to dominate the UK and Danish markets.

A recent study by ZenithOptimedia suggested that the Olympic Games, US elections and European football would all drive ad spending in 2008.
© Adfero Ltd