A major ad forecaster says advertising is still expected to grow this year despite mixed economic signals, a resiliency that industry pros say would have been unlikely during earlier periods of turbulence, according to The Wall Street Journal.
Media owners’ U.S. ad revenues are expected to grow 3.4% to $326 billion this year, according to a quarterly forecast from Magna, a media intelligence and investment firm that is part of Interpublic Group of Cos.’ Mediabrands. That is slightly down from its December estimate of 3.7% growth.
The firm expects little or no growth in the first half of the year, followed by a recovery in the second half as the economy becomes more stable. The economy was showing early signs of improvement in January and February, including receding inflation and slow but steady growth in gross domestic product, but financial turbulence in recent weeks has caused anxiety for consumers and businesses. Read the full story.
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