A lot of forecasting experts have revised and updating their 2014 and 2014 ad spending predictions now that they've had an opportunity to see an improving 2014 economy and more data on digital platforms, which will continue to be the shiny new toy for marketers. The new Borrell advertising forecasts paint a rosy picture overall but "a fairly bleak one for traditional media."
Earlier forecasts by Borrell have shown mixed levels of growth or decline for expenditures on print and broadcast media. The organization now says, ad spending on print and broadcast media is forecast to decline 3% in 2015 while online advertising will grow 44%. Borrell says two online formats ? paid search and untargeted banner advertising ? are forecast to fall 4% and 13%, respectively while targeted display advertising will take over. "By the end of 2015, one of every five dollars spend on local advertising will be spent on targeted banners."
Borrell's Director of Research Corey Elliot, says ?The future we all knew was coming has shown up. The days of saying things like ?mobile is the next big thing? and ?targeted digital ads are going to be big? are over. In the next two years, we will see a tremendous growth in these ad formats, eclipsing any gains in any other media ? and even taking away a bit from other digital formats.?
Borrell?s new forecasts are based on an assessment of U.S. ad spending during the first half of 2014. The company focuses on the $104.0 billion spend by locally-based businesses across 3,000
U.S. counties. Here are some highlights:
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