Merrill Trims Ad-Spend Forecasts - October 12, 2006
Merrill Trims Ad-Spend Forecasts
NEW YORK Merrill Lynch has downgraded its outlook for U.S. ad spending for 2006 and 2007, lowering its growth estimate this year to 4.7 percent from 5.1 percent and dropping its forecast for next year to 2.8 percent from 3.5 percent.Merrill was optimistic about one sector in particular, characterizing the Internet and other digital platforms as bright spots in an otherwise underwhelming market.
The firm projected Internet ad growth to soar nearly 30 percent in 2006 and another 22 percent next year.