March 26 (Reuters) - Money spent on online advertising hasrisen rapidly, a leading forecaster said, despite talk aboutfirms trimming digital ad budgets as they question the medium'seffectiveness.
Zenith, owned by
"For many consumers, checking their mobile devices forsocial media has become a regular, ingrained habit, while socialmedia ads blend seamlessly into their mobile app newsfeeds,"Zenith said in a statement.
Mark Zuckerberg's Facebook is often credited withspearheading the social media revolution that has grippedbillions of users globally.
However, the world's largest social media network facesgovernment scrutiny in
Global advertising expenditure is forecast to expand by 4.6percent in 2018 to
The new projection marks the biggest quarterly upgrade sinceMarch 2011 by Zenith, which had forecast 4.1 percent growth inDecember.
Zenith added that it expected advertising expenditure togrow more slowly than the global economy as a whole out to 2020.
Zenith forecast that global advertising spending would riseby
A notable development in
In the
The forecaster estimates a 6.2 percent fall in ad spend thisyear in the region.
Zenith forecast 8.8 percent annual growth to 2020 in
(Reporting by Noor Zainab Hussain in Bengaluru; Editing by DaleHudson)