IPG Mediabrands’ Magna has released its updated US Advertising Forecast, projecting a 6.3% increase in advertising revenue, representing the largest growth since 2010 – with digital advertising set to equal TV ad sales for the first time.

 Digital advertising and TV ad sales are set to each generate approximately $68bn, and social media the strongest contributing factor to digital’s increase with advertising showing 44% growth.

However, Magna predicts the year on year growth will slow to 1.4% in 2017, with no ‘tent pole’ events such as this year’s US presidential election.

Digital media advertising sales are set to grow 15% this year and 12% in 2017, reaching $105bn by the end of the decade with a 51% market share. However, traditional media sales down by 1.5% this year and 2.2% next year.

Other key predictions include that, over the next four years, holistic video advertising across all channels and all screens will grow by a 7% compound annual growth rate, while holistic audio across radio and audio streaming will slip backwards by 1%.

Holistic print NAR (newspapers, magazines, paper and digital) is set to decline by 7% year-on-year.

The report also shows that programmatic technologies continue to reshape digital media trading, with automated transactions for display and video ad impressions reaching $10bn.

In December 2015, UM’s David Cohen promoted to president of Magna Global US.