Global TV advertising growth is expected to slow to 2% in 2013, according to leading media buying agency MagnaGlobal.
Magna's new forecast puts total TV ad dollars for 2013 at $196.5 million, making it the leading media category with a 40% share.
With the U.S. economy on a slow but steady trajectory toward recovery, Magna expects to see improvement in the second half of 2013 and in 2014. Total TV ad spending in the U.S. will be down 2.8% in 2013 because of the absence of Olympic and political spending. Broadcast will be down 6.8% while cable will grow 2.4%, Magna says.
Magna says the only media category to show significant growth in the U.S. will be digital, registering an 11.5% bump.
Looking ahead, the agency says 2014 should be the strongest year for global advertising since 2010. Ad revenues are expected to rise 6.1% to $515 billion, a bigger rise than Magna forecast in December.