Spending on mobile advertising will be near to overtaking newspaper advertising within the next three years.
The latest ZenithOptimedia advertising spend forecast is out, and it says mobile will be the prime mover in the advertising game, being tipped to grow at a rate of 38.3% per year between 2014 and 2017.
The media agency said that should the trend hold true, that it would become the world's fourth-largest medium by the end of 2017, putting it within touching distance of newspapers.
It said by the end of 2017 mobile should attract 11.3% of all advertising dollars, or $US68.2 billion ($A82.3 billion) of the total pool of $603.6 billion.
It also forecast mobile to contribute 51% of the growth in advertising dollars through the forecast period.
The report also gave firm figures around to what extent internet advertising had cannibalised spending on newspapers and magazines, with internet advertising forecast to rise by 30% over the next three years while newspapers and magazines will decline by 2% per year.
This equates to a drop of a combined $8 billion over the period.
However, it should be noted that the figures for magazine and newspaper advertising do not include any digital websites.
Meanwhile, it said that television continued to be the dominant advertising medium “by some distance”, attracting 40% of the dollars this year.
While other platforms are growing at an phenomenal rate, TV will remain the dominant player with its spend due to increase by 3% per year over the next three years.
Overall though, it has forecast global advertising spend to dip by 0.4% on its last three-year forecast issued in September, mostly due to instability in Ukraine hitting consumer confidence in the Eurozone.
It said the fastest growing zone would be Latin America, followed by “Fast-Track Asia” which includes China, Indonesia, India, Malaysia, Pakistan, Philippines, Taiwan, Thailand, and Vietnam.
Meanwhile the Australia region -- within the “Advanced Asia" category --is set to grow at a “dissapointing” 2.4% this year.
However, ZenithOptimedia said this was down to property weakness in Singapore sapping consumer confidence.
Australia will retain its eighth spot in the top 10 ad markets, forecast to spend $12.3 billion this year, to grow to $13.06 billion in 2017.
For more news:
SMI data: Cinema suffers and Seven rules TV
"Disconnected" Aussies not utilising moble
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