In a report prepared by one of the world’s financial firms, Deloitte & Touche titled “Technology, Media and Telecommunications Predictions 2011”, the firm said worldwide TV advertising will grow by $10 billion which will add up to $191 billion in 2011 with 40 million new television viewers adding up to the current number of viewers.
“Television’s five year growth in advertising revenue will grow from $174 billion in 2007 to $191 billion in 2011”, said Deloitte & Touche adding that newspaper advertising revenue within the same year will decline from $126 billion to $93 billion.
In its estimation, Deloitte & Touche said it is expecting a 6 percent rise in 2012 to take TV advertising revenue to a $200 billion mark.
“A forecast 6 per cent increase in 2012 would take TV advertising revenue beyond the $200 billion mark: more than twice as much as for newspaper, the number two advertising medium” the report said.
Forecast TV advertising revenue in 2011should discourage any lingering doubts that the 30 second spot is in structural decline, Deloitte & Touche added.
According to the report, Deloitte & Touche expects television to grow its share of audience attention, despite competition from many other existing and emerging distractions both online and offline.
“In 2011, aggregate television viewing will likely reach 4.49 trillion hours. The global television audience is expected to grow by 40 million to 3.7 billion viewers.”
Deloitte & Touche says viewing of television per person is expected to rise modestly to 3 hours and 12 minutes per day as compared to the 15 minutes per day per member spent on social network sites.
By Ekow Quandzie