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Ad Week 2012: Digital, Display Ads Take Off
CNBC.com | October 02, 2012 | 02:08 PM EDT

The annual Advertising Week conference is underway in New York and the big question this year is where are ad revenues growing and who's cashing in on that growth?

No surprise, ad revenue in Europe is growing slower than expected.

But the mood here is upbeat - there's plenty of good news: the European ad market is expected to start improving as early as next year, and the U.S. ad market is growing faster than it has in years - and faster than expected.

U.S. ad spending is on track to grow 4.3 percent this year, according to Zenith Optimedia, which just upped its forecast for U.S. ad spending to 4.3 percent, from its forecast of 3.6 percent earlier this year. Where's this strength coming from? Television, which continues to be the biggest advertising segment by far, over 40 percent of all ad spend. And of course digital is driving the growth.

Who's doing all this additional spending? Retailers like Target and Kohls are spending more, and the rise of smart phones is having yet another positive impact: Apple and its rivals, competing to sell new gadgets. And foreign auto makers are also spending, though the likes of General Motors have pulled back.

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