According to a recent Bloomberg report by Tim Mullaney, the deepening U.S. recession will cause worldwide advertising spending to shrink next year for the first time since 2001, collected from findings at ZenithOptimedia and Interpublic Group of Companies.
Zenith said that ad spending will slip 0.2 percent to 0.5 billion in 2009, led by a 6.2 percent drop in the U.S.. In October, Zenith predicted the market would expand 4 percent next year, down from the 6 percent growth it forecast in June.
The U.S. ad market is expected to shrink 3.8 percent this year, after it predicted 0.7 percent growth two months ago, according to the report. Worldwide spending will rise 1.3 percent to 1.6 billion this year.