The impact of the global economy is expected to keep most business categories down. Without the expected political bonanza, the increase for the U.S. Local Ad Forecast in 2024 is only 2.2%.
The U.S. ad market showed improvement in the second quarter, but the main beneficiary was digital advertising, leaving the outlook for linear TV ad spending stagnant, according to Magna, the forecasting and intelligence unit of IPG Mediabrands.
OTT and connected TV are expected to be game changers for the broadcast industry starting in 2021.
National TV Ad Forecast Gains Momentum
National TV advertising may be taking a surprising turn — slightly upwards. First-quarter estimates are tracking 3% higher, hitting $10.9 billion, excluding comparisons which included Olympics advertising spending of a year ago (up 1.4% including those results).
