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Magna on Tuesday issued an updated media outlook for 2010, forecasting a lesser decline in the advertising market than it had earlier anticipated.
Citing improvement on the industrial production front, Magna improved its forecast slightly, reporting that it now anticipates normalized advertising revenues to decline 1.3 percent next year. Earlier this year, Magna indicated that it expected a 2.1 percent drop in 2010.
All told, Magna expects suppliers to generate $159 billion in advertising revenue next year, as the economy begins its recovery from four straight quarters of recession.
Among the sectors looking to show marked improvement in 2010 are national TV, which Magna predicts will grow 1.3
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