Ad spending in the U.S. is expanding at a higher rate than expected, with the market on track to top $200 billion for the first time this year, MediaPost reports.
Spending rose 5.8% in the second quarter following a 6.5% jump in the first quarter, the publication report, citing a revised forecast released this morning by IPG Mediabrands’ Magna unit.
“Magna now projects the U.S. ad market will top $200 billion for the first time this year, wrapping up at about $207 billion for all four quarters, a 6.9% expansion over 2017,” MediaPost reports.
The Magna report is quoted saying: “The upward revision was triggered by a stronger-than-expected market in the first half (+6.1%) and robust macro-economic forecasts. The 2019 forecast was also raised due to continued expectations for economic strength, from +3.6% to +4.0%.”