Healthy growth expected for global ad market

Global advertising expenditure is expected to grow at a rate of 3.7% in the next 12 months and a further 5% in 2014, a survey of 57 markets globally, shows.The report, from media agency Carat, shows China will remain at the top of its growth forecasts with 6.9% growth in 2013 and a further 7.8% in 2014. This is despite an expected slowdown in China after years of solid growth.Globally, one of the categories to watch is digital, which has been boosting the global advertising pie by 2% each year.Carat's data shows by 2014, online marketing will command more than 20% of the overall advertising spend.“As expected, the trend of audiences moving online continues and with digital advertising comes greater accountability,” Jerry Buhlmann, chief executive of Aegis, said.“So while television remains the dominant medium, it is clear that the advertising businesses which can innovate and implement truly cross-platform converged communication plans, combining online and offline campaigns will be the most successful and deliver the best results for clients.”In China, digital media is growing at 40% and its share will reach 13.3% of the entire advertising pie – with almost all surveyed advertisers putting their eggs in the medium.Despite that TV advertising still dominates the market at 57.7%, the total numbers are witnessing a decline compared to its earlier years due to more stringent media restriction policies and the competition from digital.