IPG's Magna forecasts slow recovery for US advertising

NEW YORK - Magna, the media trading division of Interpublic's Mediabrands media unit, has predicted that US ad revenues will decline by 14 per cent this year.

Magna, the media trading division of Interpublic's Mediabrands media unit, has predicted that US ad revenues will decline by 14 per cent this year.
Magna, the media trading division of Interpublic's Mediabrands media unit, has predicted that US ad revenues will decline by 14 per cent this year.

However, Mediabrands, in common with reports from competitors including WPP’s Group M, says that the decline has already bottomed out and that growth will return in the second half of 2010.

Magna predicts that US revenue will fall from $189 billion last year to $161 billion in 2009.

It forecasts that the first half of 2009 will be the worst period of the recession, with US ad revenues falling by 18 per cent.

Magna, which is part of a Mediabrands structure headed by the chief executive, Nick Brien, said that ad revenues are expected to fall by a further 2 per cent during 2010 and that total revenues between 2009 and 2014 will rise by just 1 per cent.

Subscribe to Campaign from just £57 per quarter

Includes weekly and quarterly print issues, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
BBH deputy ECD Caroline Pay exits
Share

1 BBH deputy ECD Caroline Pay exits

Bartle Bogle Hegarty has parted company with its deputy executive creative director Caroline Pay and has promoted Ian Heartfield, creative managing partner, and Anthony Austin, chief executive of Black Sheep Studios, to take over as joint deputy ECDs.

Agencies' anger at failure of Stronger In campaign
Shares0
Share

1 Agencies' anger at failure of Stronger In campaign

"We failed the country, we could and should have done better." So says one senior advertising executive involved in the Britain Stronger In Europe campaign.

Just published