Asia to beat Euro media spend in 98
The media spend in the Asia Pacific region will overtake that of Europe in 1998, according to a forecast by Zenith Media.
The value of media spend in Asia Pacific will rise to $93bn (56bn) at 1996 prices, compared with a European media spend of $91bn (55bn). The Asia Pacific region will increase to $102bn (62bn) in 1999, compared with Europe’s spend of $97bn (59bn).
Much of Asia’s growth is attributed to the dominance of Japan in the region and its economic recovery. However, growth from China and India is forecast to be 30 per cent of the region’s media spend by the turn of the century. Indonesia and the Philippines are also likely to account for much of the growth.
Asia Pacific’s growth explains the expansion of media buying specialists such as Zenith, CIA Group, Carat and Initiative Media into the region. In the coming year all four plan to increase their currently operations in the region (MW November 29).
“It’s simple,” says John Perriss, chairman of Zenith Worldwide, “The reason ad spend is going up is because clients are going to Asia and as ever we follow them. The media markets are also changing so that media specialists can now add value.”
Zenith plans to open offices in Singapore, Taiwan, New Zealand and Australia in 1997.
