Marketers are expected to spend $540 billion globally on advertising this year, a 4.6% increase over 2014, according to a report by media-agency Carat. The year-over-year increase comes despite a relative lack of tent-pole media events. In 2014, by comparison, a trifecta of major events — Winter Olympics, FIFA World Cup and U.S. mid-term elections — helped boost advertising outlays.
The heady optimism is thanks to digital media, which is fueling the growth in advertising budgets this year, the Carat report found. Global digital spending is forecasted to grow 15.7% in 2015 compared with the previous year. Meanwhile, traditional media — even TV — is seeing sluggish growth or declines.
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