Magna Sees Stronger Ad Growth

Raised estimates from 2.1% to 2.8%
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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%
this year.

Despite concerns about the recession, the media
economy remained resilient, Magna says. And it should continue improve next
year.

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%.

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