Global Advertising Spend Lifts but European Market Declines

Global advertising spend lifted over the first three quarters of 2013, though the European market was still in decline as economic woe continued to blight the continent.

According to research firm Nielsen, global advertising spend lifted 3.2% over the first three quarters of 2013. However in Europe it fell by 3.8%. Most of the growth was driven by the Asia-Pacific region, where advertising spend shot up 7% during the same period.

"With signs of optimism spreading within the global economy and Asia Pacific's ad market gaining increased momentum, Nielsen will be watching to see if the global advertising market continues to pick up speed through the end of the year," said Nielsen.

The advertising looks to be in for a bumper year in 2014, with a number of large events taking place, including the Sochi Winter Olympics, the World Cup in Rio di Janeiro, and the US mid-term elections.

In 2013 North American advertising spend dipped 1.3% in the third quarter, though it was a 1.7% rise year-on-year across all three quarters.

"The small decline in the region's third quarter ad market partly reflects this year's decrease in political advertising, which ruled the airwaves in advance of the U.S. election last fall," said Nielsen.