“The strength of digital continues to be the dominant element of the growth of the global advertising expenditure whilst TV remains the foundations of our industry,” said Jerry Buhlmann, CEO of Carat’s parent company, Dentsu Ageis Network, in the report.
But TV and digital are coming together as Carat leverages programmatic capabilities to “combine TV and rich consumer data to buy against people, not schedules,” said Carat global CSO Sanjay Nazerali.
Carat expects global ad spend to grow 4.5% YoY through 2017, reaching $538 billion in 2016. This is slightly down from Carat’s September forecast (4.7% YoY) due to lowered expectations in China and Brazil. Despite volatility in foreign markets, all regions are predicted to continue positive through 2016.
North American ad spend will grow 4.3% in 2016, thanks in part to the US elections.
Aside from print, which continues its decline, Carat predicts positive growth for all other media including out-of-home, radio and cinema.