GroupM: 2017 Global Marketing Expenditures To Surpass USD 1 Trillion But 2016 Growth Estimate Revised Down
- by Radu Cotarcea
A report by GroupM — owned by WPP — announced it trimmed its 2016 global ad expenditure forecast and shared its initial outlook for 2017.
According to its research, the 2017 ad volume prediction of USD 552 billion (+ 4.3 percent), when combined with other marketing services, pushes total marketing services expenditures worldwide past the USD 1 trillion threshold for first time. The media investment management group noted however that "slowing growth in China and Brazil this year drive GroupM to revise down their 2016 growth estimate to 4.0 percent from the 4.5 percent earlier predicted, (net new investment of US 22 billion trimmed to USD 20.5 billion).”
“The impact of media consumption migrating to digital platforms, and the flow of advertising investment with it, must not be underestimated by advertising clients,” said Dominic Proctor, President, GropuM Global. “This fragmention of billions of consumer impressions across thousands of platforms demands the use of data and technology to create bespoke and meaningful targeted audiences for brands. This is the transition from media planning to audience planning and the reason why GroupM continues to focus investment in talent and technology around data and analystics. We see this as crucial to creating sustainable marketplace advantage for our clients, and it’s an important dialogue we’re having which is increasingly and appropriately focused on performance versus the commodity pricing of media.”
For more details check out the WPP press release here.