By Ramy Ghaly
ZenithOptimedia cuts forecast for worldwide ad market by almost £1.5bn, as Egypt and Japan almost halt commercial ads
The Japanese earthquake and ongoing turmoil in the Middle East will strip almost $2.5bn (£1.5bn) from global advertising spend this year, according to a new forecast from Publicis Groupe's media buying network ZenithOptimedia.
ZenithOptimedia reckons that Japan's ad market is set to dip by 4.1% this year and Egypt shrink by 20%, but in 2012 the two will rise by 4.6% and 12% respectively.
The company also said that internet advertising will overtake newspapers to become the world's second largest ad medium – behind TV – in 2013 .
ZenithOptimedia forecasts that newspaper ad expenditure will fall from $95bn in 2010 to $91bn in 2013, while internet ad spend will rise from $63bn to $94.5bn over the same period.
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