While television will remain the top medium for advertising, Aegis Group's Carat unit projected Wednesday morning that digital will make up one-fifth of all ad spending next year, reports MediaPost.
The forecast also represents a significan downgrade from Carat's previous projections about the increase in ad spending, according to the story. Carat's new projection sees the global ad economy to expand 3.7% this year, down from the 5.1% it projected last August, says the story. Carat did project that worldwide ad spending will rise 5.0% in 2014, led by double-digit increases in Latin America, Russia, and a resurgence in North America and the U.K., according to the report.
The story said that Carat estimates digital's share of global ad spending has been expanding 2% each year, and based on that rate, predicts it will account for more than 20% of all global advertising by 2014.