Magna is projecting the U.S. advertising market will grow by $34 billion in 2021 to reach $259 billion, a 15 percent increase and the strongest growth rate in 40 years. That’s $19 billion and 9 percent above March’s forecast, when Magna anticipated a 6.4 percent growth in U.S. ad sales. (Adweek)
The economic recovery from the coronavirus pandemic will lead to a record 14 percent gain in global advertising spending this year to a record $657 billion. That would be above the 12.5 percent gain recorded in 2000, and a significant increase from Magna’s previous forecast for an 8 percent increase. (THR)
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