The U.S. ad market is expected to generate $197 billion in revenue this year, a 5.5 percent increase from 2017, according to a new forecast out of Magna. That’s up from Magna’s previous estimate, which predicted 5 percent growth.
It also bests the 2.7 percent rise in 2017, which of course reflects the benefit of this year’s cyclical events like the mid-term elections, Winter Olympics and FIFA World Cup. Excluding those, Magna predicts ad sales will grow 3.7 percent. That’s slightly slower than the 4.5 percent increase seen in 2017 when adjusting for events last year.
Digital is growing at a faster clip than Magna previously expected, poised to control half of all ad dollars in 2018. Formats like search, video, display and social are expected to bring in 50 percent of total ad sales this year, one year earlier than previously anticipated, according to Magna. Digital ad sales are projected to grow by 14 percent this year to $97 billion, with almost 60 percent of that coming from mobile.