New York—Global ad spending will rise 6.5% in 2014 over this year, according to a new forecast by Magna Global. The forecast is up slightly from a June projection of 6.1% growth for next year. The increase will be driven largely by the rise in social and mobile ad spending.
Social ad spending will reach an estimated $9.1 billion this year, up 58.0% over last year, according to Magna. Of this, $2.9 billion will be from mobile social ad spending.
Digital ad spending will reach an estimated $118.0 billion this year, up 16.0% over last year. That is up from Magna's June projection of 13.4% growth in digital ad spending this year.