MagnaGlobal, part of ad buyer Mediabrands, raised its
forecast for U.S. ad revenues in 2010 to 2.1% from 1.6%.
The forecast excludes the impact of the Olympics and
elections on spending. With those factored in, ad revenue should be up 3.4% in
2010.
Magna sees national television, led by national cable,
growing at 4.9% to $35.4 billion, slightly more than its earlier estimate.
Local television will grow 9.6% to $18.5 billion, bouncing back from a 13.6%
decline in 2009.
Magna's prediction for 2010 is based on continued
improvement in the economy and the absence of a double-dip of recessionary
conditions.
Over the longer term, Magna Global is forecasting 3.6%
annualized growth between 2010 and 2015. Its earlier forecast called for 3.5%
growth.
MagnaGlobal expects national television to grow 6.5%
annually from 2010 to 2015 and local TV to be up 4.2% annually over the same
time span.
