Media buyer Magna Global has raised its estimates
for advertising revenue growth.
Magna expects revenues to grow 2.8% on a normalized
basis (excluding local TV political and network TV Olympic advertising),
compared to its previous forecast of 2.1% growth.
With local political and network TV Olympic
advertising factored in, Magna now expects advertising revenues to grow by 4.1%
Despite concerns about the recession, the media
economy remained resilient, Magna says. And it should continue improve next
Magna sees 3.1% growth in ad revenues in 2011 and
an average annual growth rate of 3.6% for 2010 through 2015.
TV should continue to be strong led by
national cable, which grew at a 13.4% clip in the second quarter and local,
which rebounded 16.7%.