Ad spending across all media will grow 4.8% to $190.2 billion in 2005, according to new research from entertainment-newsletter producer Jack Myers LLC.
That figure more than doubles the 2.2 percent growth for 2005’s ad spending the firm had originally projected in September.
Much of the unexpected growth can be attributed to newspaper advertising which will grow 4.1 percent in 2005, says the company’s annual Jack Myers Report, which tracks advertising and marketing spending in 11 media categories. Also helping boost the number were strong cable sales.
The firm will release a detailed breakdown of 2005’s forecasted ad spending in the various 11 media, including cable TV, later this afternoon. Spending on local and regional cable TV advertising grew 11% in 2004 and Myers’ original research projected it would grow another 9% in 2005.
The amended data comes from the Jack Myers Report Advertising Confidence Index Survey, Dec. 2004, culled from 225 respondents in various areas of the advertising industry, as well as spending forecasts from 32 media clients.