New York—U.S. ad spending will increase 0.4% this year, according to a new forecast from Magna Global. Excluding ad spending on the Olympics and political advertising last year, ad spending will increase 2.4% this year.
Magna also upgraded its U.S. ad spending growth forecast to 5.9% next year (3.8%, excluding Olympics and political advertising), buoyed by more robust economic news.
In a forecast earlier this year, Magna projected U.S. ad growth of 5.4% (3.1% excluding Olympics and political advertising).
Digital ad spending will be up 11.5% this year and outdoor ad spending will be up 3.5%, according to Magna.
Magazine ad spending will be down 6.7% and TV ad spending will be down 2.8%, Magna projected.