Ad spending should recover modestly this year before posting stronger gains next year, bond-rating agency Standard & Poor's Corp. predicted.
In a forecast of media companies' fortunes, S&P sees overall ad spending
increasing 2.7 percent during 2002. That's far better than the 6.5 percent
decline sustained by media companies last year. But the agency sees much better
performance next year, with a 5.1 percent increase.
Television ad spending is seen growing by 3.5 percent this year after
declining 10.2 percent in 2001.
Newspaper advertising, which dropped 9.8 percent in 2001, is forecast to
increase 9 percent this year.