PARIS (Reuters) -. Repeat Title
The increase in global ad spending is expected to be 5.3% in 2014, slightly less than what was originally planned because of tensions between Russia and the West over Ukraine, ZenithOptimedia said Friday.
The forecaster, a subsidiary of Publicis, also lowered projections for 2015 and 2016, 5.3% and 5.9% respectively, due to a deteriorating outlook in Central and Eastern Europe, North America and the Middle East.
“The conflict in Ukraine seriously disrupts the advertising market in the country, while Russia has (also) been affected,” said ZenithOptimedia said in a statement, adding that the Russian advertising market is expected to grow by only 1.7% this year .
“This is the first time since 2009 that (advertising expenditure) Russia will not increase by double digits.”
According to ZenithOptimedia, advertising expenditures should s raise it to $ 523 billion (€ 407 billion) throughout 2014.
(Leila Abboud, Benoit Van Overstraeten for the French service, edited by Marc Angrand)
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