Nearly $200 Billion in Ad Spending Seen for '98
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Total ad spending in the U.S. (including new media) is projected to increase 6.2% to $198.42 billion in 1998, according to McCann-Erickson's latest "Insider's Report."
Robert Coen, senior vice president and director of forecasting for the report, had issued a preliminary forecast for 1998 that put ad spending up 5.6%. The increase in the projected growth rate can be attributed to the strong economy, the Winter Olympics, and increased political advertising, according to Simba Information Inc.'s "Yellow Pages & Directory Report" newsletter.
Local advertising was expected to rise 6.1% to $81.49 billion in 1998, while national advertising should increase 6.3% to $116.9 billion. National yellow pages should increase 6.5% to $1.8 billion in 1998, compared to an 8.4% increase in 1997, Coen projected. Local yellow pages advertising should rise 5.5% to $10.33 billion in 1998, compared to an expected 5.3% in 1997.