©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.
Two of Madison Avenue’s Big 3 forecasters — Interpublic’s Magna and WPP’s GroupM units — have significantly upgraded their forecasts for the worldwide ad economy in 2011. The other, Publicis’ ZenithOptimedia unit, revised its forecast slightly downward. The forecasts were released late Sunday in anticipation of presentations that will be made Monday morning at the opening of the UBS annual Media Week conference in New York.
Interpublic, which over the past couple of years has shifted its method for estimating the ad economy based on media company revenues, now expects the global ad economy to expand 5.4% — an increase of nearly a percentage point over its previous projection of 4.2% global advertising growth in 2011.