ZenithOptimedia Downgrades U.S., Western Ad Outlooks, Boosts Internet's
IN ITS FIRST AD OF 2008, Publicis' ZenithOptimedia unit has downgraded its outlook for the two largest advertising markets, North America and Western Europe, this year from 4.4% to 3.8%. The revised forecast, released early this morning, cited a number of macro economic factors, especially the credit crunch, which ZenithOptimedia said is draining consumer and business confidence.
ZenithOptimedia's revision takes anticipated 2008 U.S. advertising growth down by nearly half a point, from 4.1% in its last forecast in December 2007, to 3.7% now.
While ZenithOptimedia is actually upping its outlook for the rest of the world (to 11.1% from 10.9%), its outlook for total worldwide ad spending was downgraded from a 6.7% rate of growth in is last outlook to 6.5% now.
