Forecast: A brisk year for global media

FORECAST: A BRISK YEAR FOR GLOBAL MEDIA
[SOURCE: Media Life, AUTHOR: Diego Vasquez]
The U.S. ad economy may be struggling but globally the media business is in a major boom, reflecting the growth of media economies of emerging nations such as China. GroupM sees ad spending around the world growing by 7 percent next year, up from 6 percent in 2007, and it sees an ever-larger share of that spending taking place in countries that only a few years ago were considered media backwaters.Indeed, it forecasts that in the coming year fully 5 percent of global ad spending will shift away from the developed nations to the emerging economies. This would be the largest shift ever, according to the author of the report, Adam Smith. [No, not that Adam Smith.] The biggest growth engine by far, predicts Smith, will be China, which he believes will account for 21 percent of new spending. Russia and Brazil will account for 6 percent each, while India will claim 3 percent.
http://www.medialifemagazine.com/artman2/publish/Media_economy_57/Forecast_A_brisk_year_for_global_media.asp