TOP OF THE CHARTS: Global FMCG adspend is set for 4.4% annual growth, but will need until 2023 to match 2019 levels, according to a forecast from Zenith.
CAMPAIGN MEMBER EXCLUSIVE: Expect a surge of pitching in Asia-Pacific, says R3, with more integrated pitches in EMEA and more indies at the table in the US.
Robust digital spending fuelled by small businesses propelled growth, leading GroupM, Magna and Zenith to revise their forecasts upward.
The latest forecast from Warc calls for a 10.2% drop in global adspend in 2020, and the organisation says it will take until 2022 to recover to 2019's level of spend.
Total advertising revenue for media owners will shrink 7.2% for the year, before recovering +6.1% in 2021, according to the latest Magna forecast.
Forecast is better than worst predictions for global agency sector.
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