MagnaGlobal, part of ad buyer Mediabrands, raised its forecast for U.S. ad revenues in 2010 to 2.1% from 1.6%.
The forecast excludes the impact of the Olympics and elections on spending. With those events factored in, ad revenue should be up 3.4% in 2010.
Magna sees national television, led by national cable, growing at 4.9% to $35.4 billion, slightly more than its earlier estimate. Local television will grow 9.6% to $18.5 billion, bouncing back from a 13.6% decline in 2009.