Global advertising is on track to once again match its 2007 apex next year. At least, that’s the prediction from WPP-owned media buyer GroupM.
Global advertising investment will total $534 billion in 2014, growing 4.5% from last year, according to the report. GroupM estimates that ad growth will jump 5% in 2015 to $560 billion, eclipsing the pre-financial crisis peak.
“The U.S market should experience moderate ad growth in 2015 consistent with nominal GDP,” Rino Scanzoni, GroupM’s chief investment officer in North America, said in a statement. “We expect 2015 overall ad volume to exceed the 2006 high water mark of $161.9 billion by 4% on a nominal basis.”
The report notes that while the U.S. still comprises a quarter of global ad dollars, second-place China is growing faster at a pace in the low double digits. GroupM predicts the U.S. will grow 3.4% this year. Western Europe, an area hit hard by the global recession, still remains 20% below its 2007 level, according to the report.
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