Brazil and Mexico see ad declines, but Colombia, Argentina and Venezuela are growing.
BY CHRONICLE STAFF
Advertising expenditure will barely grow in Latin America this year, but pick up next year, UK-based ad agency ZenithOptimedia predicts.
While the world ad market is set to fall by 8.5 percent this year, Latin America will by the only area actually seeing an increase, albeit small. Total ad spending is expected to reach $30.4 billion in the region, a 0.2 percent increase from last year, ZenithOptimedia estimates.
By comparison, the U.S. market will plunge 10.6 percent, while Asia’s will fall by 5.0 percent. And even fast-growing Eastern Europe will see a 15.3 percent decline. As a result, Latin America this year will replace Eastern Europe as the world’s fourth-largest ad market after North America, Western Europe and Asia.
However, even Latin America’s overall rate is low compared to several key markets that are set to see healthy growth. While Brazil and Mexico (the top two markets) are set to post declines, other key markets like Argentina, Colombia and Venezuela will likely see growth.
That makes them among the minority worldwide. Of the 79 markets ZenithOptimedia covers, 25 are growing.
Last year, Latin America’s ad market grew by 14.5 perent to ....
Keywords: Argentina, Brazil, Colombia, Mexico, Venezuela