A Gloomy Oulook For Global Ad Markets

GMI projects that ad revenue growth in Europe's big five markets and the US will be sluggish in 2008, and television revenues in the US would actually be down if not for these 'quadrennial' events. In 2008, TV ad spending will grow only +1.5% in the US and +1.9% in Europe. Over the next five years (2008-2012) GMI forecasts 3.6% CAGR in Europe and 3.7% in the US. After a couple of sluggish years in 2008-09, we expect overall ad revenue growth to go back to nominal GDP growth in 2010-12 (+5% in Europe, +6% in the US).