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The world’s advertisers have had their best year of sales growth since 2010, propelled by digitisation and major events like the FIFA World Cup and US mid-term elections, according to a study released on Monday.
Industry revenues this year have grown 7.2% to $552bn across 70 countries analysed, IPG Mediabrands SA’s research unit MAGNA said. A fast-growing US economy, spending of $4bn on US 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% 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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