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Ad-Spending Forecaster Magna Cuts Growth Outlook, Citing Consumer Confidence

One of the advertising industry’s top forecasters has tempered its expectations for ad spending in the U.S., citing a foggy economic outlook and a downturn in consumer confidence. When adjusting for cyclical spending in both years — taking into account irregular dynamics such as political advertising and the Summer Olympics in 2024 — non-cyclical ad revenue growth in 2025 was revised t0 6.7%, compared with a previous estimate of 7.3%. The report surfaces just weeks ahead of the media industry’s annual “upfront” sales season, when U.S. TV networks try to sell the bulk of their commercial inventory tied to their next cycle of programming.

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