Magna Research Upgrades U.S. Ad Revenue Forecast
October 13, 2016 at 4:53 AM (PT)
Those smiles in your sales office may be related to early eggnog consumption, or because INTERPUBLIC's research division MAGNA has upgraded its U.S. ad revenue forecast, "and now predicts that media owners net advertising revenues will grow 6.3% to $179 billion in 2016, the strongest growth rate since 2010," reports MEDIA POST. "The research unit had previously forecast 6.2% growth for the region, but made the upgrade following a strong first half and despite lower political ad-spend expectations."
- 2017 growth is expected to slow to 3.5%
- Digital media ad sales will grow by 15% this year and 12% next year
- Traditional media, including radio, will decrease by 1.5% this year and 2.2% next year
- Digital ad sales this year will equal TV ad dollars for the first time with both generating $68 billion
- Social media ad sales are expected to rise 44% to nearly $16 billion