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Steve King, the ZenithOptimedia worldwide chief executive, said that the downgrade to TV ad forecasts was because of a decline in spending from retailers and fast-moving consumer goods companies.
We think the recovery in the UK ad market will continue in 2015, and raise our 2015 earnings per share by 3% to reflect higher ad forecasts (slightly offset by programming costs).
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Elsewhere ITV was 3.8p better at 183.4p after Nomura raised its price target from 170p to 200p, saying: Continued UK macroeconomic improvement means we raise our ITV 2013 ad forecast to 1.5% (from 1%) and our 2014 forecast to 4% (from 2%).
That is the prediction of eMarketer, a research firm that many in the tech industry rely on for its ad revenue forecasts.
The chairman of Zenith is John Perriss, who is known for his periodic worldwide ad spending forecasts; the chairman of Optimedia is Simon Lloyd.
In the last year, as subscription and ad sales forecasts fizzled and financing dried up, more than a dozen online magazines have gone back to tap old media, including radio and print, to draw audiences -- and advertisers -- at least until the Web delivers on its promise.
The researcher has just revised its social net ad spend forecast downward, with Facebook expected to attract $265 million in 2008, down 12.9% from the earlier forecast of $305 million.
ITV was also helped by a positive note from Credit Suisse, which put an outperform rating on the broadcaster: We increase our 2015 TV ad growth forecast to 5.3% (previously 3.1%, consensus 2.7%) following latest feedback from UK media buyers.
Another day, another online ad spending forecast revised downward.
Adobe says the acquisition of the company will enable it to add multi-channel ad campaign forecasting, execution and optimization capabilities to its existing Digital Marketing solutions.
That has had a large knock-on effect on the mobile ad market, forecast to be worth $100 billion in 2016 and 51% of the digital ad market, according to eMarketer.
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