Robust digital spending fuelled by small businesses propelled growth, leading GroupM, Magna and Zenith to revise their forecasts upward.
Digital advertising is expected to grow by 8% to $336 billion in 2020, but this is not enough to counter an 18% decline in linear advertising, according to IPG's research arm.
Total advertising revenue for media owners will shrink 7.2% for the year, before recovering +6.1% in 2021, according to the latest Magna forecast.
And that's the good news, according to a Magna Global report, as the crisis hammers spending across all formats.
APAC outpaced the global ad market's 5.2% growth in 2020, but will only slightly beat the 5.7% growth Magna predicts globally for 2020
IPG Mediabrands' Magna has upgraded its global advertising forecast—one week after both Dentsu and GroupM downgraded theirs.
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