MagnaGlobal released a new advertising spending forecast June 16 that nearly doubles its expectation for growth in 2010.
The new report calls for a 4.2% increase in global ad spending, to $377 billion. MagnaGlobal's previous forecast called for a 2.4% increase. Spending was down 11.3% in 2009.
Traditional television accounts for about 40% of all global advertising, or about $151 billion, and is growing in all regions of the world. In 2010, Magna expects spending on TV to increase 6.9% globally.
In North America, spending on TV is projected to total $57.7 billion, up 9.4% from 2009, when it fell 10.1%. Of that total TV spending, $55.9 billion in the U.S.
Spending on all media in 2010 is expected to total $147.3 billlion, up 3.4%, with $138.9 billion of that coming in the U.S.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
