The media network’s forecasts are based on data from 59 markets across the Americas, Asia Pacific and EMEA, and show revenues accelerating slightly more than the 4.8% increase predicted in March 2014. For 2015 year-on-year growth is predicted at 5%.

The US shows strong on-going market growth, with ad spend expected to exceed the pre-recession peak in 2007 for the first time by the end of 2014. Western Europe is predicted to see a return to positive growth of 2.7% after two consecutive years of declining ad spend, driven by a strong UK advertising market (forecast to grow by 7.5% this year).

Although forecasts show a slight decline in growth when compared with predictions from March 2014, Asia Pacific and Latin America are still both forecast to outperform global predictions, with growth rates for 2014 of 5.4% and 12.1% respectively.  

In terms of media type, digital outperforms previous predictions for 2014 with year-on-year growth forecast at 16.1%. Digital will also increase its total share of spend, reaching 20.5% in 2014 and 22.6% next year, when it will out-pace the combined magazines and newspaper global share for the first time.