US 2008 ad spend to reach $168.8 bln

US ad spend will grow by 3.7% to $168.8 bln. Television will account for 50% of 2008’s new ad dollars. The internet will account for 28% of new investment, according to GroupM. Western Europe is the second-largest media bloc accounting for some 27% of total media investment. Western Europe’s contribution to 2008 ad growth is pegged at 16%, well below expected economic growth. Spending in China is expected to grow 25%, down from 2007’s 29% growth. China is expected to contribute 21% of new media dollars – the biggest contributor – ahead of the US, which is expected to contribute 20% of new media dollars, followed by Russia and Brazil with 6% each.