Forecast: Ad Spending Growing at Best Pace in Six Years

Magna expects 2016 to see the largest increase in United States ad spending in six years. The IPG Mediabrands' agency revised its forecast for the year on Wednesday, predicting ad revenue in the U.S. will grow to $179 billion, a 6.3% increase. In June, Magna had predicted a 6.2% jump in ad revenue, according to AdAge.

A 6.3% jump would represent the strongest growth rate since 2010, when revenue increased 6.6%.

Excluding incremental ad sales generated by the 2016 presidential election and the Summer Olympics, ad growth would be 4.4%, in line with last year's growth of 4.3%.

The revised forecast comes following a stronger-than-expected first-half of the year, with ad revenue climbing nearly 7%. The first quarter actually saw the strongest year-over-year growth rate recorded in over a decade. Ad sales were driven by a 4.6% jump in national TV, 18.3% surge in digital media and 3.8% growth in out-of-home. Print and radio advertising continued to decline 9% and 2%, respectively.