MAGNA adjusted its short-term advertising revenue forecast downward by 1% based on the economic impact of the Russian invasion of Ukraine. Media owners’ revenues are expected to grow in 2022 to $320 billion, a new all-time high. However, its top-line forecast (all-media, including cyclical) goes down from +12.6% in its previous update to +11.5%. Excluding cyclical effects, 2022 growth will be +10%, down from +28% in 2021.
Technology, telecoms, entertainment, travel and betting are among the industries expected to grow faster than average, while automotive continues to struggle with supply chain issues.