IPG Mediabrands’ MAGNA has released its 2017 advertising forecast for U.S. media, and domestic ad spend is expected to grow by 3.7% this year. But, to little surprise, it is digital ad sales that will power this growth.
The economic environment remains favorable for marketing expenditures in 2017, however, indicating that broadcast media could experience a healthy year. MAGNA makes this prediction with GDP forecast to grow by 2.3%, compared to 1.6% growth in 2016; personal consumption expected to grow 4.7% (compared to 3.8% in 2016); and unemployment decreasing further, to 4.6%.
Furthermore, MAGNA notes that consumer confidence is at a 12-year high.