As the U.S. economy continues to recover, ad spending on television will increase, but not nearly as fast as mobile advertising.
According to a new advertising expenditure forecast by ZenithOptimedia, TV will be up 2.9% in 2013 compared to the Olympic year in 2012 and unchanged from the agency's previous report. Another Olympics, World Cup soccer and mid-term elections will boost spending by 3.8% in 2014 and spending will rise 2.5% in 2015.
ZenithOptimedia says that TV accounted for a 38.8% of U.S. ad spending in 2012. Total ad spending will rise 3.4% in 2013, 4.5% in 2014 and 4.6% in 2015.
The biggest gains on a percentage basis will come in mobile advertising, which is just beginning to gain traction. Zenith estimates that $6.2 billion will be spent on mobile advertising in 2013, representing only 3.7% of total ad expenditures. But it will grow fast. Zenith is calling for an 81% spike in 2013, a 61% jump in 2014 and a 53% hike in 2015, which mobile will count for 8.4% of total spending.
That will narrow the gap between mobile's share of ad expenditure and its share of consumers' time spent across all media.
"After years of hype, mobile advertising has finally arrived. Its importance will only grow over the next few years as advertisers and agencies get to grips with the opportunities it offers, and improve its ability to measure and deliver return on investment, Time Jones, CEO, North America, at ZenithOptimedia, said in the report.
Contributing to the growth in mobile are the rapid adoptions of smart phones and tablet, new
ad formats created for mobile and standardization of ad formats, ad serving and measurement.
Desktop Internet advertising is expected to grow 10% in 2013 and 2014, and then 8% in 2015. Desktop and mobile Internet advertising will account for $21.8% of all U.S. advertising this year. Its share will rise to $27.9% in 2015.
ZenithOptimedia forecasts that global ad growth will be 3.5% in 2013, 5.1% in 5.9% in 2015, thanks to improved economic health in Europe.