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 advertising revenues will reach US$600 billion in 2019, representing the tenth consecutive year of growth.
It cited stronger-than-expected advertising activity in the first half of 2019 in several key markets, including the US and China, as a reason for upgrading its forecast. While the overall global figure is less than other predictions, Magna is notably the first to upgrade its 2019 outlook.