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.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.