Magna Global downgrades U.S. ad forecast to 0.8% growth next year

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New York—Factoring in the absence of political and Olympic advertising, Magna Global downgraded its U.S. ad spending forecast to $154.4 billion next year, up 0.8% over this year. In its July forecast, Magna had projected growth of 0.9% next year. This year, political and Olympic advertising will help boost U.S. ad spending growth 4.6% over last year, Magna said in the report. The ad category experiencing the most growth this year will be digital media (up 12.8%), followed by television (9.0%) and out-of-home advertising (4.2%). Print advertising has continued to suffer this year. Magna projected ad spending in newspapers will be down 8.6%, while magazines will be down 7.5%.
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