New York—Media forecaster Magna Global, New York, lowered its global ad forecast to 3.1% growth next year, down from a June forecast of 4.5% growth, citing continued uncertainty about the global economy.
This year, global ad spending will be up 3.8% over last year, down from a June forecast of 4.8% growth.
In the U.S., ad spending will be up 4.0% this year over last year, buoyed by Olympics and election advertising, unchanged from the June forecast.
Next year, ad spending in the U.S. will slow to 0.6% growth next year, according to the report.
The highest-growing media categories globally next year will be digital (up 13.5%), out-of-home (up 3.4%), TV (2.3%) and radio (1.5%). Newspaper ad spending will decline by 3.4%,while magazine ad spending will decline by 4.3%, Magna projected.