On AdNews: 'Australian Ad Market Strong as Global Spend to Reach $548bn'
The Australian advertising market is predicted to generate above average growth of +5.4%, fueled by strong double-digit increases in digital advertising, according to Carat’s global Ad Spend Report - September 2016.
Global advertising spend is forecast to increase 4.4% to US$548.2 billion, led by strong growth in India (12%), Latin America (10%) and Russia (6.2%).
Marketers in Mainland Europe’s three largest economies are applying the brakes on ad spend, with France (0.9%), Germany (2.3%) and Italy (1.3%) poised for modest growth.
In Australia, ad spend has been buoyed by the 12-week Federal Election campaign and the Rio 2016 Olympics and Paralympics, collectively accounting for an estimated US$110 million spend this year.
Carat predicts Australian ad spend growth will slow marginally to 4.5% next year due to the absence of major media events.
“With Australia being an advanced digital economy we are seeing momentum in mobile, online search and video all leading the rapid growth in digital investment,” says Simon Ryan, CEO of Dentsu Aegis Network and Carat in Australia.
“With digital and media convergence leading brands, they can build deeper engagements and gain a superior understanding of their audience and activations through data-led media solutions”.
This article originally appeared on AdNews.