©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.
Media agency Carat has significantly increased its projection for U.S. ad spending growth for this year, while offering an initial study forecast for 2012. Carat had projected a 1.7% bump for 2011 back in August, but now expects a 3.7% increase domestically.
Carat said the U.S. market has been recovering at a better-than-expected rate, notably with the auto sector on the rise.
In 2012, when spending should get a boost from both a presidential campaign and London Olympics, Carat projects a 5.9% increase in the U.S. ad spend.
Also, online and TV are forecast to grow this year, plus digital out-of-home spending. But a a boost is also projected for the recently bumbling radio sector. On a global basis, TV is projected to grow 6.7% in 2011 and, somewhat surprisingly, at a slightly lower pace (6.5%) in 2012.