Revising the initial estimates downwards, Zenith Media predicts that spending will fall by 2.6% rather than the 1.5% that it forecast a few months ago.
Evidently the downturn has been prompted by a slump in profitability among the world's leading advertisers.
"The advertising slowdown began with the globalised packaged goods manufacturers, so the onset was sudden, worldwide and affected television the most.
"However, it is now spreading to most other product categories, advertisers and media," Zenith said
