Companies
After advertising spending grew by +32% in the first half, MAGNA has raised its media owner ad revenue forecasts to +23% in 2021, and +12% in 2022 when the U.S. market reaches the $300 billion mark for the first time.
According to Vincent Letang, EVP, Global Market Intelligence at MAGNA, “The unprecedented growth in advertising spending in the first half (+32%) was more than low comps due to the COVID lockdown and recession last year. It was caused by a unique combination of national brands reconnecting with consumers and competing for a limited amount of traditional media inventory, while the lasting changes of COVID on lifestyles and marketing methods continue to fuel huge digital advertising spending from both big brands and small businesses. These ongoing organic growth engines, combined with Olympic budgets and the Mid-Term election spending, will continue to generate double-digit spending growth in the second half and into 2022.”
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