IPG's Magna predicts that global media spending will hit $427 billion in 2012, up 4.7 percent from estimated 2011 mediaspend. That is a 0.5 percent decrease from the firm's previous 2012 estimates.
US media forecasts are slightly less rosy, at 3.7 percent growth to $153 billion. Interestingly, China may pop up to the second largest ad market in 2012, partly due to its own organic growth, and partly due to unexpected adspend declines in tsunami-hit Japan.
Two other ad giants published 2012 forecasts that were equally or slightly more optimistic than Magna's newest prediction. Zenith Optimedia predicts 4.7 percent growth. GroupM predicts that the Olympics will add still more momentum, driving world spend to $522 billion, a 6.4 percent increase over 2011.