New independent research from Magna Global gives us a glimpse into expected 2015 advertising spend. With the highest normalized growth rate since 2005, core media advertising revenues are projected to reach a new peak at $172 billion.
Compared to 2014, digital advertising is expected to see the largest increase in ad spend at 15.7%, due in large part to increases in social media ad spend (+32%) and video ad spend (+31%).
Outdoor, TV, and radio advertising are projected to experience slight growth in 2015, while newspaper and magazine ad spend continues to decline, as seen in the chart above.
This data correlates well with research out of Duke University’s Fuqua School of Business (see chart below), which forecasts changes in traditional and digital media spend. According to the survey, CMOs predict a 10.8% increase in digital marketing spend over the next 12 months, compared to the expected 3.6% decrease in traditional media spend.