Rate of global adspend growth to double

Global advertising expenditure will grow at a rate of 3% during 2013, but this is expected to double to 6% in 2014, according to the latest forecasts.

Magna Global, the media management company, has predicted that worldwide adspend will total $486bn this year and will reach $515bn next year, reported MediaPost.

The US continues to be the biggest single market, accounting for almost a third of total spending, but its share will edge downwards, from 31.9% in 2013 to 31.8% in 2014 as other markets grow faster. 

Latin America is expected to see the highest rate of growth this year and next, at 12.5% and 12.9% respectively. It is followed by the Asia-Pacific region, with figures of 5.9% and 7.4%.

Within the latter, China will be a strong performer, said Magna, growing from $42.8bn this year to $48.0bn in 2014, a 12.1% rise.

China is the third largest advertising market but is rapidly closing in on Japan, the second biggest country, whose spend is predicted to increase by a more modest 2.9%, from $51.7bn in 2013 to $53.2bn in 2014. Read more http://www.warc.com/LatestNews/News/EmailNews.news?ID=31537&Origin=WARCNewsEmail&utm_source=WarcNews&utm_medium=email&utm_campaign=WarcNews20130617

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