• by Wayne Friedman , August 26, 2016

The U.S. advertising market is expected to grow at its fastest rate since 2010 -- nearly 6%.  Upgrading its earlier forecast, London-based advertising researcher Warc says U.S. ad spend will rise 5.8% to a record high of $178 billion -- double the amount projected for the overall U.S. economy.

A previous December forecast had estimated the U.S. ad market climbing 4.9% for 2016.

U.S. TV spending will rise 6.6% to $68 billion this year, due to increased spending with the Rio Olympics and the U.S. presidential election. A year ago Warc says the U.S. TV advertising market sank 3.5% versus 2014.

U.S. digital media spending will grow at over double the rate of TV -- 13.7%. Overall, Warc says digital media will achieve near the same dollar value of the TV ad market this year -- and rising above TV next year.

In 2017, with no Olympics or political advertising, TV advertising will decline again, sinking 4.5% to $65 billion. Digital media will continue its steady rise -- 12.5% -- next year to $76 billion -- with half of that going to mobile platforms.

Two other growth areas among U.S. media segments are in-theater advertising, 5.1% and outdoor, 3.3%. Sinking categories are newspapers, 12.7%; magazines, 12.4%; and and radio, 2.8%.

Warc says $553.70 is expected to be spent on advertising next year for every U.S. person -- up $60 from 2012.