Television advertising is expected to grow in 2011 even
as the advertising economy showed signs of weakness in the first quarter,
according to a new forecast by media agency MagnaGlobal.
In light of recent economic reports, MagnaGlobal said it
was lowering its outlook for U.S. advertising revenues to $173.1 billion, which
would represent growth of 2.9%, down from 3.1% in its previous forecast.
But Magna said national advertising, including network
broadcast and cable networks are benefiting from a shift away from local
spending. Magna said it expects national TV to grow 7.9% in 2011, up from 6.5%
in its previous forecast. (The figures exclude the effects of the Olympics.)
Showing weakness are newspapers, radio, outdoor and direct media.
Online advertising was set to be the fastest growing
segment of the advertising industry. Magna sees online spending hitting $30.1
billion in 2011, up 15.6% from 2010.