Another media watcher sees signs of economic recovery and reason to adopt a more positive outlook for advertising in 2010.
Barclays Capital said Thursday that ad sales could climb 3.5 percent to $167.6 billion this year, which is better than the group’s previous expectation for a flat year, Bloomberg reports.
“While we expect modest aggregate growth for local media advertising in 2010, we also expect national advertising to outpace the growth of local advertising and take share from local overall,” the report says.
Network TV ads, with help from the Olympics and World Cup, may rise 7.8 percent and online ads could grow by 8.9 percent, the report says. Previous estimates were 4.5 percent and 5.7 percent, respectively. Local broadcast TV advertising could grow by 5 percent (3 percent was projected previously) and radio ads could see a 2.2 percent gain instead of a 4 percent decline.
Newspaper ad spending should drop 5.8 percent, better than the 10 percent loss expected previously. Magazine ads should be down 3 percent instead of the 10 percent decline expected earlier.
Interpublic Group’s forecasting unit said last week it expected a 1.4 percent rise in ad spending overall with the help of the Olympics and elections.