The Publicis-owned media agency network Zenith Optimedia is predicting 0.9% growth in global ad spend in 2010, ending a period of decline brought on by the global recession.
Zenith predicts global ad spend in 2010 will be US$447.7 billion, up from the projected $443.7 billion spent this year.
This year’s projected ad spend represents a 10.2% decline from 2008, "the worst decline in ad expenditure in modern times," according to a release from the company.
The prediction of growth marks the company’s first upgraded expectations since June 2008 when it forecast only 0.4% growth in 2010.
The global increase is expected to be driven by Latin America (8.1% growth), Central and Eastern Europe (2.3%) and Asia Pacific, excluding Japan (3.8%).
Despite remaining the largest ad market in the world next year at a projected $153+ billion, North America is expected to see a decline of 2.4% in ad spending.
"The pain inflicted by the ad downturn has been distributed across the globe very unevenly," the company said in its release. "All the developed markets… have suffered substantial losses, and we expect decline to continue in these markets in 2010 as economic growth remains slow and uncertain."
Despite the overall positive signs and upgraded expectations, a "normal" positive growth rate of 5% across all markets is not expected until 2012.
Looking at individual media trends, the report notes that the only spending growth for 2009 was in the online sector. Online display, classified and paid search ads totalled an estimated $54.1 billion, up approximately 10.7% from $49.4 billion in 2008.
Zenith reports the Internet will see another 11.6% in spending growth next year, and will earn 13.7% share of global ad dollars, up from 12.4% in 2009.
However, online advertising is still expected trail television and newspapers by a wide margin in overall spend and spending share.
