Magna Predicts Uneven Growth In Ad Spending For 2022

IPG Mediabrands’ Magna has increased its 2022 outlook for US ad spending by 11.6%, with the strongest gains appearing in cinema, connected TV (CTV), digital video, search, and social. Local broadcast and cable will see positive outcomes due to expected political campaign ad spending in 2022, which will counterbalance the decline of other media channels such as national broadcast and cable, publishing, and pure-play digital display advertising. Magna also forecasts COVID-19 infections will surge during the colder months as more people stay indoors, but vaccinations will keep pandemic restrictions at bay, resulting in economic growth that catches up with pre-Covid levels of ad spend.