A global advertising forecast from ZenithOptimedia was scaled back in the face of political turmoil in the Middle East and debt issues in Europe, reports Advertising Age.
ZenithOptimedia now expects global ad spending to increase 4.1% to $471 billion this year, compared with a December forecast that 2011 ad spending would rise 4.6%, the story notes.
For U.S. ad spending, ZenithOptimedia is now forecasting a 2.1% rise to $165 billion, compared with its previous estimate of a 2.5% bump.
Among media, TV is taking the most U.S. dollars, with money shifting from network to cable. Cable is expected to see a 10% increase in ad spending. Newspapers will see an 8.5% decline, the largest decrease, the piece notes.