Global TV Ads on Up and Up
By John Eggerton -- Broadcasting & Cable, 6/29/2004 7:05:00 AM
Television advertising will grow at a compound annual rate of 6.5% worldwide through 2008, according to projections by PriceWaterhouseCoopers. That's compared to an overall global advertising growth rate of 5.3% for the same 2004-08 period.
Television will remain the principal advertising medium, claiming $164 billion of the projected total $412 billion for all advertising in 2008.
The study says that print media "will continue to lose share to electronic media as advertisers continue to be attracted by broadcasting's superior reach and younger demographics." Driving that growth in TV ad spending will be new channels, says the study, as well as spending on Olympics and the World Cup.
TV networks will be among the earliest beneficiaries of an improving economy, says the report, because advertisers want reach. Major growth areas for the entertainment and media industries will be the Asia/Pacific region and Latin America.
Satellite is projected to gain market share from cable, with rapid growth expected from pay-per-view and video on demand.
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