Issuing its latest forecasts for the global advertising industry, analysts at ZenithOptimedia noted that 2009 advertising revenue figures will likely be worse than expected, but that recovery will kick in next year. It downgraded its earlier 2009 forecasts from negative 8.5% to negative 9.9%. However, it reversed 2010 forecasts of 1.6% shrinkage to 0.5% growth.
Internet remains the growth driver, but TV will be in positive territory next year and record decent growth in 2010, ZenithOptimedia noted.
Encouragingly for the TV sector, it will actually grow its overall share of the advertising revenue pie. This year it is expected to take 39.3% of all ad revenues and this will increase to 39.7% and 39.9% in 2010 and 2011, ZenithOptimedia says.
ZenithOptimedia’s survey of the world’s largest media owners shows that only Google grew advertising revenues in the first half of 2009. Google is the third-largest media owner behind Time Warner and News Corp and registered 4% growth in advertising revenue. Time Warner was down 7.7% and News Corp 16.4%. CBS and Bertelsmann in fourth and fifth, recorded 16.5% and 9.9% declines respectively.