NEWS: McCann Revises 2005 Ad Spending Forecast
Sarbox concerns temper overall ad spending estimates,
but Internet remains on double-digit growth pace.
from AICPA Custom Media Solutions
noted media prognosticator and Senior Vice President for forecasting
at the Interpublic Group of Cos. Inc. unit, recently revised downward
his estimate of U.S. advertising spending growth to 5.7 percent
from 6.4 percent earlier in the year.
As Reuters reported in a June 29 release, Coen points
to Sarbanes Oxley corporate reform laws that have chilled spending
somewhat on advertising and promotions. Why? For fear that such
spending could affect their financial statements.
a lot of caution on management groups to guarantee nothing is out
of line," he said. Coen also said that Internet ad spending, while
expected to slow somewhat, should still grow about 15 percent to
$7.8 billion. While less aggressive than his 25 percent growth estimate
of 25 percent earlier in the year, Internet advertising, like Cable
and Hispanic marketing, continues to make significant inroads into
the core budgets of corporate marketing directors and their advertising