has released a rosier outlook on its 2010 ad spend forecast. It now says global ad spend for the year will grow 4.9%, up from its October estimate of 4.8%.
This increase is due to advertising rebounding faster than expected in every region this year and advertisers regaining some of their confidence after repeating drops. Other positive indicators include rebounding corporate profitability and companies having large cash reserves built up. Global ad spending is expected to exceed its 2008 peak by 2012, according to the report.
The positive trend is estimated to continue into 2013, according to ZenithOptimedia who forecast growth of 4.6% in 2011 and 5.2% in 2012 and 2013.
Ad spend in magazines, along with newspapers will drop 2% between 2010 and 2013. The internet continues to be the area of highest growth, with a 48% gain expected between 2010 and 2013. Internet display advertising is forecast to reverse its downward trend and take 33.9% of internet ad spend this year and 35% in 2013, thanks to the popularity of video and social media online, according to ZenithOptimedia.