Advertising spending growth may slow from next year as TV networks in the U.S. are forced to cut rates as audience levels fall, Saatchi & Saatchi Chief Executive Kevin Roberts said at an industry conference.

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In the U.S., television networks ``seem to be gouging advertisers,'' Roberts said. ``Their rates are going up and the return on investment is coming down.''

Saatchi & Saatchi, once the world's largest advertising agency, is owned by Paris-based Publicis Groupe SA and makes commercials for companies including Procter & Gamble Co. and Toyota Motor Corp.

About 8,000 people from advertising agencies worldwide and marketers from companies such as Procter & Gamble, McDonald's Corp. and Coca-Cola Co. are in Cannes this week for the 52nd annual ad festival. The program culminates with a ceremony tomorrow that is dubbed the ``Oscars'' of advertising.