The agency had published its worldwide media forecast for 2019, last December.
Advertising media company GroupM has revised its figures for global growth in ad spend from its previous estimates. The piece says that the growth projection for advertising expenditure is 3.4% for 2019. The agency had forecasted a 3.6% growth for 2019 last December.
Digital ad spend continues to dominate global ad expenditure even as the overall growth seems to be slowing down. Ad spend on Internet-related activities are expected to lead, with global spending expected to be around 50% in 2020.
The agency forecasts a growth rate of 4.7% for 2020 indicating a slight growth in ad spend on an underlying basis. Brian Wieser, global president of business intelligence at GroupM, said, "While the economic foundations supporting the advertising industry are somewhat fragile at this time, growth trends are holding up for now."
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