The latest quarterly Global Adview Pulse report from researcher Nielsen revealed a 3.8% drop in European advertising spend over the first three quarters of 2013, despite the small decline of 0.4% in the third quarter, which might mean that the market is finally bottoming out.
Developments in Europe’s advertising market are in stark contrast with the rest of the world, where advertising expenditure grew by 3.2% during the first three quarters and by 3.2% between July-September 2013. The bulk of the growth came from the Asia-Pacific, where advertisers ramped up their spending by 7% between January and September.
Advertising spend in North America dropped by 1.3% in the third quarter of 2013 due to a dip in political advertising, but growth was still positive in the first three quarters overall, improving by 1.7%.
In Latin America, advertising spend jumped by a whopping 13%, while in the Middle East and Africa the growth was measured at 1.9%, the report found.
Nielsen said that it will keep an eye on whether the recovering global economy and Asia-Pacific’s improved ad market will lead to a further increase in advertising expenditure.
Nielsen’s Global AdView Pulse report measures ad spending for TV, newspapers, magazines, radio, outdoor, cinema and Internet display advertising.
Earlier this month, marketing information service Warc predicted that advertising spend will improve by 5.2% on a global scale this year, which is a slight reduction from its previous forecast of 5.4% growth, after seeing a 3.2% rise in 2013.