Global ad spend is projected to increase 4.4% in 2015—and 5.3% in 2016, boosted by the Summer Olympics in Rio and the US Presidential elections—according to projections by ZenithOptimedia.

ZenithOptimedia lowered its ad spend growth forecasts for 2015 and 2016by 0.5 and 0.3 percentage points, respectively, from earlier reports, primarily because of the deepening recession in Russia, Ukraine, and Belarus, as well as a slowdown in growth in China.

Nevertheless, the projections for each year are above the average annual growth rate for the last 20 years (4.2%), and well ahead of the average for the last 10 years (2.8%).

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image of Ayaz Nanji

Ayaz Nanji is a digital strategist and a co-founder of ICW Media, a marketing agency specializing in content and social media services for tech firms. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.

LinkedIn: Ayaz Nanji

Twitter: @ayaznanji