Media buyer ZenithOptimedia ups global advertising forecast

Media buyer ZenithOptimedia increased its forecast for advertising growth this year to 4.8 per cent from 3.5 per cent, after the recovery in global advertising gathered pace in the middle of the year. It is the fourth upgrade in a row from Zenith - part of France-based Publicis Groupe SA - after six consecutive downgrades as the advertising industry suffered its steepest decline in modern times in 2009.

South America is forecast to be the best-performing region, with Zenith expecting growth of 16.8 per cent this year driven by a strong bounceback in Brazil in the second quarter, when spending rose 32 per cent quarter-on-quarter. It also upgraded North America, to 2.4 per cent from the 1.3 per cent it expected in July, as it said most of the large financial, retail and automotive spenders returned to the market. The soccer World Cup helped advertising in Europe in the summer, it said, with France, the UK, Finland, Norway, Sweden and Belgium performing best. ZenithOptimedia also raised its forecast for 2011 to 4.6 per cent from 4.5 per cent, although the unexpectedly strong 2010 meant 2011 would now represent a mild slowdown.