Magna raises 2024 US and global ad forecasts due to stronger Q1 ad market, with US ad market projected at $374B.

Magna, a media investment company, raised its 2024 US and global ad forecasts due to a stronger-than-expected Q1 ad market and better economic outlook. The US ad market is projected to reach $374B, up 11% YoY, and the global ad market to total $927B, a 10% increase. Digital pure players, like Google, Amazon, and Meta, will see the highest growth at 13.5%, with TV advertising projected to decline.