TV ad spending is alive and well. Most of the spots consumers are asked to suffer through still suck, but that’s not a deterrent to brands wishing to reach a mass audience.
According to USA Today:
Industry consultant PricewaterhouseCoopers — encouraged by the spread of digital and high-definition TV sets — is boosting its forecast for TV ad sales in the new edition out Wednesday of its annual, widely cited five-year Global Entertainment and Media Outlook.
The firm sees ad spending at the tried-and-true networks growing at an average of 7.1% per year to nearly $52 billion in 2010 and $48.8 billion in 2009. That’s up from last year’s forecast of 5.9% annual growth to $43.2 billion in 2009.
Cable networks passed broadcast networks in the competition for ad dollars last year for the first time, and PricewaterhouseCoopers expects the gap to grow.