US advertising to grow 2.1% this year
The US advertising economy will grow by 2.1% during 2010, excluding political and Olympic advertising on TV, according to a new forecast by Magna Global.
The forecast, is marginally higher than its previous forecast of 1.6% year on year growth, estimates that media suppliers to generate $169.9 billion dollars of advertising revenues during 2010.
Including political and Olympic advertising, total industry growth is expected to hit 3.4% for 2010.
For the third quarter of 2010, Magna forecasts that US media suppliers will collectively generate 2.4% more advertising revenue than they did in Q3 2009.
Long term, 3.6% average growth is expected between 2010 and 2015, up from 3.5% previously.
GroupM recently released its revised UK 2010 adspend forecast, up from zero growth in December to +4%.
In April, Magna published its UK adspend forecasts, predicting 3% growth this year, up from its previous forecast of 1%.