By: Katy Bachman
(Mediaweek) Buoyed by the election year, the Summer Olympic games and an improving economy, advertising spending is expected to increase 7.8% in 2004 to $138.4 billion, according to a forecast released Thursday by TNS Media Intelligence/CMR, which tracks advertising spending across 20 media segments.
The forecast follows an estimated 6.7% gain for 2003.
TNS/CMR predicted the biggest gains will come in the second quarter, reflecting the impact of election spending and the buildup to the Olympics. First half spending is expected to be up 6.8%, with the second half to see an 8.6% increase.
Spanish-language TV is forecast to post the biggest advertising gain at 15.7%, followed by the Internet (12.1%), spot TV (10.8%), network TV (9.6%), radio (9.5%), cable network TV (8.3%), consumer and Sunday magazines (5.7%), newspapers (5.5%), syndication (5.4%) and outdoor (5.0%).