Advertising market momentum has remained uneven in different parts of the world and the entertainment industry, according to a slew of latest reports and forecasts published Tuesday. Carat, a unit of London-based media buying and marketing services firm Aegis Group, on Tuesday slightly increased its 2005 global advertising spending growth forecast from 5 percent to 5.2 percent, citing continued strength in Asia that is making up for weaker-than-thought trends in big European markets and an in-line performance in the U.S. The Asian advertising market continues to expand, and Carat predicts that at current growth rates, its size will eclipse that of Europe by 2008. The main driver on the Asian continent remains China, which entertainment companies have increasingly tried to target. Also on Tuesday, marketing data tracker TNS Media Intelligence said total U.S. ad expenditures for the first half of the year increased 4.5 percent year-over-year to $70.5 billion, exceeding the firm's 4.1 percent estimate on strength in cable TV and Internet advertising.
Across the globe, CEOs and their leadership teams continue to seek information and guidance about planned Digital Transformation initiatives and the most effective enterprise organization change management practices. Worldwide IT and Business Services revenue will grow from $1.13 trillion in 2022 to $1.2 trillion in 2023 -- that's a 5.7 percent year-over-year growth, according to the latest market study by International Data Corporation (IDC). The mid-term to long-term outlook for the market has also increased -- the five-year CAGR is forecast at 5.2 percent, compared to the previous 4.9 percent. Digital Sevices & Consulting Market Development IDC has raised the growth projection despite a weak economic outlook, because of vendor performances across 2022, growth indicators from adjacent markets, increased government funding, and inflation impacts. The actual 2022 market growth was 6.7 percent (in constant currency), which was 87 basis points higher than forecast last year, alth