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IPG’s Magna Global has revised its 2010 U.S. media forecast, noting that it now expects suppliers to generate almost $170 billion in advertising revenue this year.
The new outlook pegs growth at 2.1 percent vs. Magna’s earlier forecast of 1.6 percent year-over-year improvement. Both figures exclude political and Olympic ad spending. With the Vancouver Games and election spending thrown into the mix, ad revenue should rise 3.4 percent in 2010.
Led by national cable spending, television will remain the strongest media sector, accounting for 40 percent of the overall pie and growing 10.4
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