Carat, a division of Dentsu, published its latest forecast for advertising spending and has predicted that overall there will be a 4.0% growth in 2017 with emerging economies ahead of the rest. OOH is expected to grow more slowly than the market at 3.3%. The forecast for North America has been revised up to 5% growth, while Western Europe will grow by 2.9%, up from 2.7% this year, but down from previous forecasts (3.1%).
Digital media remains the key driver of growth accounting for more than 90% of the incremental media spend in 2017. In China, OOH is the third largest media type and is expected to give 3.8% growth, as city and airport development continues. Although there is no break out of digital OOH spending, Carat said that “Advances in technology, such as the digital transformation of public space and data usage, will continue to shape this media type creating new exciting opportunities for advertisers for more personalisation and relevance”.
With increased commercial flexibility making it easier for advertisers to adapt spend to the big screen, Cinema is forecast to continue to grow globally by +4.5% in 2016 and +4.6% in 2017.
The report can be downloaded here.