Actually, Australian ad spend dropped in 2012, says Carat
Publishing its first forecasts for worldwide advertising expenditure in 2014, as well as revisions on 2012 and 2013 figures, Carat has forecast Australian advertising spend to achieve positive growth this year and next, but has downgraded Australia’s 2012 figures from positive 1.0% to negative 1.1%.
Australian ad spend in 2013 is expected to achieve 1.5% growth, a downward revision from 2.0% made at the previous forecast in August last year. And in its first look at 2014, Carat sees the Australian market maintaining modest growth of 1.4% in the positive.
Based on data received from 57 markets around the world, Carat predicts further positive momentum for global advertising expenditure in 2014, increasing by 5.0%, while the latest 2013 forecast is for 3.7% growth.
Digital advertising is expected to reach a share of 20% globally by next year, which is increasing on average 2% each year, with digital advertising already the dominant medium in the UK, the Netherlands and Sweden.
Even Western Europe, following two consecutive years of decline, is likely to return to growth as it benefits from the increase in multi-platform opportunities and the resulting increase in digital spend, Carat says.
From a global perspective, growth in advertising spend continues to be led by two of the original BRIC economies of Russia and Brazil who are forecast to continue delivering double digit growth in 2014. Russia will be boosted by the Winter Olympic Games and Brazil from the 2014 FIFA World Cup.