(Bloomberg) -- The world’s advertisers have had their best year of sales growth since 2010, propelled by digitization and major events like the FIFA World Cup and U.S. mid-term elections, according to a study released Monday.
Industry revenues this year have grown 7.2 percent to $552 billion across 70 countries analyzed, IPG Mediabrands SA’s research unit MAGNA said. A fast-growing U.S. economy, spending of $4 billion on U.S. election campaigning and rapid expansion of developing markets such as India and China underpinned the expansion.
Ad spend growth is expected to slow to 4.7 percent next year due to economic and political uncertainty, the maturity of digital media and a lack of major events, MAGNA said.
Digital media advertising has been growing more than expected this year and is set to make up half of all ad spend as soon as 2019, the analysis also showed.
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