Ad spending on internet video is forecast to grow by 19% in the U.S. this year, according to a new global ad forecast from media agency ZenithOptimedia. Ad spending on social media is expected to grow by 45% and on mobile by 69%, say forecasters who predict that the Internet is the only medium to see an uptick in advertising in 2009. The Internet is slated to take a 12.3% share of global ad dollars in 2009, up from 10.2%. Globally, television is also expected to grow slightly up from 38.2% in 2008 to 39.3% in 2009.
ZenithOptimedia is the latest media agency to revise its outlook for 2010 upwards slightly. Last week, Magna predicted a slightly better 2010 than it had previously forecast. Zenith suggests a 0.5% uptick in spending globally. However the bad news is that forecasters are still expecting overall ad spending in North America to shrink another 2.9%. The report details the extent to which pure media owners experienced declines in the first half of 2009. CBS Corp. saw media revenue fall by 16.5% while Time Warner fell 7.7%. Google rose 4% over the same period, while competitor Yahoo was down 12.8%, illustrating that it's not all good news for Internet players.
This latest report from Zenith underlines the degree to which big media players ought to be seeking growth oversees: developing markets are projected to grow by 7.8% next year. The agency says ad spending will grow in 27 developing markets this year and in 52 developing markets in 2010. According to the report, "developing markets' share of global ad expenditure is rising rapidly: we forecast it to reach 35% in 2011, up from 29% in 2008." Meanwhile the developed markets of North America, Europe and Japan, won't see growth until 2011. Though Zenith predicts a 4.3% uptick by 2011.