Madison Avenue’s consensus outlook for the U.S. ad economy improved dramatically this morning, as IPG Mediabrands’ Magna unit increased its forecast for 2021 ad growth to 23.2%, up from 15.1% in June, 6.4% in March and just 4.1% when it made its original prediction for the year in December 2020. Magna also upgraded its outlook for 2020, and now expects it to rise 11.6%, up from the 8.0% it was projecting in its June update.
IPG Mediabrands’ Magna unit has revised its 2020 U.S. ad outlook down once again, but is keeping its 2021 forecast the same. Magna now projects the U.S. ad economy will decline 4.6%, three-tenths of a percentage point more than the 4.3% it projected U.S. ad spending would fall this year. Its 2021 forecast remains the same: +4.0%.
Zenith has downgraded its global ad-spending forecast for 2019, now predicting 4.6% growth to $639 billion. That’s down a bit from the 4.7% growth the Publicis Groupe media agency had forecast in March. Growth is expected to taper slightly in the following two years, Zenith now predicts, including 4.4% for 2020 and 4.3% for 2021.
A report from ZenithOptimedia, released this morning, predicts that ad revenue will grow by 3.4% in 2013, down from a prediction of 3.5% in June. The agency cited the condition of the general economy as the biggest reason for the change.
Advertisers spooked by the fiscal cliff are spending now, before consumers lose confidence. First quarter will be dicey, but second half should be strong.
Citing the “first signs of weakness,” Interpublic’s Magna Global unit this morning issued a downgrade to its outlook for U.S. ad spending in 2011, revising its downward two-tenths of a point to 2.9%, from 3.1% in its previous forecast.