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Static adspend forecasted for 2003.(Brief Article)
UK ad expenditure is expected to remain virtually static for the second year in succession with recovery in the US market not translating into similar growth here.
Adspend for 2003 will rise by just 0.4 per cent to dollars 15.28 billion, according to forecasts from ZenithOptimedia, compared with an increase of 2.8 per cent in North America.
In real terms, ZenithOptimedia predicts adspend in the UK will actually fall by 2.6 per cent and blamed sluggish economic growth and excessive numbers of public-sector jobs funded by taxation.
However, it predicts better growth in 2004 with UK ad revenues rising 3.2 per cent to dollars 15.77 billion, which translates to 1.1 per cent in real terms.
ZenithOptimedia said enthusiasm in the US TV market, manifested in the upfront trading, was not replicated in the UK. It is predicting a 1.4 per ...
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