Media agency ZenithOptimedia has raised its advertising forecast for 2010, and the biggest improvement comes in North America.
In its previous forecast, released in April, ZenithOptimedia called for a 1.5% decrease in North American Advertising Expenditures. In a report issued Monday, the agency is calling for 1.3% growth.
"This is because consumer confidence and spending has recovered quite strongly in the U.S., despite persistent unemployment," the agency said.
ZenithOptimedia also noted that network TV had a very health first quarter in the U. S. and that that was followed by 6% to 10% rate increases in the upfront market for commercial time during the 2010-2011 season.
In the U.S., ZenithOptimedia sees expenditures on television increasing 6.4% to $177.7 million in 2010. Spending on TV is expected to hits $187.4 million in 2011 and $197.6 million in 2012.
Total U.S. ad spending is expected to be $440.9 million in 2010, with mobile advertising and social media showing the biggest growth.
ZenithOptimedia sees global ad expenditures rising 3.5% compared to a 2.2% growth rate in its earlier forecast.
