ZenithOptimedia cuts forecast for worldwide ad market by almost £1.5bn, as Egypt and Japan almost halt commercial ads/

This article titled “Global ad spend ‘hit by Japanese earthquake and Middle East'” was written by Mark Sweney, for guardian.co.uk on Monday 11th April 2011 11.47 UTC

The Japanese earthquake and ongoing turmoil in the Middle East will strip almost .5bn (£1.5bn) from global advertising spend this year, according to a new forecast from Publicis Groupe’s media buying network ZenithOptimedia.

ZenithOptimedia has cut is forecast for growth in the global ad market this year from 4.6% to 4.2%, although the network believes that the underlying recovery remains “healthy”.

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