Universal McCann Forecasts Paltry Ad Spending Growth

As reported in Crains New York, Universal McCann, a widely respected forecaster of advertiser spending, reduced its estimate of 2007 spending growth to 0.7 %. This is down significantly from the 4.8% growth projected for 2007 twelve months ago.

Back in September, Crains reported figures from Nielsen that showed television, radio and newspaper advertising was dropping while internet advertising rose 23.6%.

It will be interesting to see if this trend continues, with advertiser spending remaining somewhat flat with a redistribution toward the internet.