IPG Mediabrands’ Magna has upgraded its global advertising forecast—one week after both Dentsu and GroupM downgraded theirs. IPG Mediabrands has become the first of three major advertising groups to increase its 2019 global advertising forecast—from a prediction of 4.7% growth in December 2018 to 5% today. The agency’s insight arm Magna has predicted that global
Andy Zonfrillo took some time at Campaign360 to share his thoughts on in-housing, internal client relationships and the challenges of agency life today. Andy Zonfrillo, the global president of IPG Mediabrands’ Magna, says that agencies are more critical to clients than ever. In this video, recorded at the Campaign360 conference in Singapore, he discusses how
The upfront season may have wrapped up, however, media execs in adland are still wrapping their heads around the plethora of new content and programming. With each network promising jam-packed slates for 2019, B&T wanted to find out what media agency executives made of the upfronts, those who the networks are essentially pitching to. View
Latest forecast significantly upgrades adspend growth for next year, though certain Asian markets will stall. Asia-Pacific is set to see 7.1% growth in adspend in 2019, according to Magna’s latest report, up from the 6% predicted six months ago. That growth is slower than the 7.7% predicted by the end of 2018, which the Magna
The latest Magna and IPG Mediabrands forecast sees growth in all APAC markets except Singapore.
IPG Mediabrands Malaysia has hired Audrey Chong as chief investment officer of Magna Malaysia. Chong will be responsible for all traditional and digital media investment decisions from a trading, buying accountability and digital innovation lens.
Chong will report directly to chief executive officer of IPG Mediabrands, Bala Pomaleh. In her role, she will expand the traditional trading scope to adapt to the needs of the industry, and create new opportunities to optimise value for clients.
Next year promises to be a stronger year for ad spending worldwide, but mainly due to big cyclical drivers like the Winter Olympics, the FIFA World Cup and the US mid-term elections, according to Magna’s latest winter update. The advertising forecast pegs global ad revenue to rise by 5.2% to US $535 billion in 2018, up from 4.1% growth last year. Stripping out those big events, however, would reveal a slower pace of growth: 4.1% in 2018, compared to 5.1% last year.
In Asia-Pacific, Magna has brightened its latest outlook for 2018 to 5.9% growth (to US$165 billion) from 5.1% in its earlier estimate, which now marks an improvement from the 5.7% growth in APAC in 2017.
That’s largely due to an upward revision in the estimate for digital-centric China. Whereas Magna previously expected only 6.7% growth in 2018, it now expects a gain of 8.5%, nearly matching this year’s pace as fears of a broader economic slowdown dissipate.
A new study by Magna and IPG Mediabrands predicts a thriving DOOH ad environment over the coming years.
The share of global advertising spend going to out-of-home (OOH) advertising remains stable at 6 percent, according to a new report, and it is the only offline media category to show consistent growth. This is largely down to major investment in digital OOH (or DOOH), which is growing in every environment and has seen unit numbers jump 70,000 to 300,000 worldwide in two years, and revenue increase by 30 percent.
IPG Mediabrands will launch its market forecasting unit MAGNA in India next month, said Leigh Terry, CEO, IPG Mediabrands, APAC.
“India is in the top three markets in the APAC region and we are big in India… We want to continue to reinforce and grow our market position. (And) with the launch of Magna, take the next step in leveraging our scale in the country,” Terry added. China and Australia are the other counties in the top three apart from India.
The new entity will be headed by Hema Malik, COO, Lodestar UM and Arun Sharma, managing partner, Initiative, in India in addition to their current roles.
The company is also looking at some acquisitions in analytics, artificial intelligence and machine learning space.
Advertising spend in Asia Pacific will grow by 5.6 percent in 2017 to US$156 billion, overshooting previous forecasts by 0.2 percent and ensuring the region holds its position as the second largest market after North America ($196 billion), says the latest Magna Advertising Forecast report from IPG Mediabrands. Growth is then expected to slow slightly for the next two years before rising to 5.6 percent again in 2020.
The report shows that as a region, Asia Pacific is performing significantly better than the world. Net ad sales globally will grow by 3.7 percent in 2017, a major drop from the 5.9 percent growth rate of last year. This analysis is corroborated by another recent forecast by Dentsu Aegis Network, which puts global ad market growth this year at 3.8 percent, down on 2016’s growth by 1 percent. This slower performance was not unexpected, says Magna’s report, because of 2017’s lack of major cyclical sports events and a natural slowdown following the spike caused by last year’s US elections.