The global advertising market is expected to grow by a modest 3 percent this year as the economic mood remains fragile in many major ad markets. According to Magna Global, total media ad revenue is predicted to reach $486 billion this year, with television remaining the most important advertising medium.
TV ad revenues will account for 40 percent of the global total this year as digital advertising continues its rise through the ranks. Digital advertising is the only category expected to see double-digit growth this year and is now bigger than print advertising on a global scale. Newspapers and magazines continue to see their ad revenues decline (-3.3 percent and -5.1 percent respectively) as our reading habits are shifting toward digital consumption.
Magna Global provides a positive outlook for 2014. The global ad market is predicted to grow 6.1 percent next year as the economic situation in developed countries is expected to improve and emerging markets will continue to see strong advertising growth.