Magna Global Revises Forecast, Sees Radio Growing 2.1%
January 19, 2011 at 4:24 AM (PT)
MAGNA GLOBAL has reforecasted their view of the U.S. ad economy, and see growth at a 3.1% rate this year, about on par with 2010. The forecast predicts that TV and older forms of digital media will continue to soar. "We expect TV advertising to rise by 6.3% on a normalized basis during 2011 and digital display to grow by 11.6%," Magna noted.
As for radio, MAGNA had forecasted 1.3% growth just last month, but has revised that to 2.1%, totaling $15.7 billion in 2011.
MAGNA wrote, "Continuing weakness in unemployment -- the absence of a meaningful pick-up in the overall economy and constrained deployments of capital among businesses of all kinds" would keep growth in check.
Total ad spending in 2011 is estimated at $173 billion.