Earlier this year, Zenith Optimedia predicted an improving ad market for 2010. For North America, analysts were expecting a growth rate of 1.3% for the year. Now, the firm’s prognosticators say that the North American market is looking at a bigger increase – something along the lines of 2.4% for the year.

The growth rates in the North American market will be driven by return of advertisers in significant industries. This includes financial, retail and automotive.  While the increases in ad spending in North America pale in comparison to the economic hot spots like Brazil, the positive news is encouraging for media space providers.

A similarly upbeat report came from MagnaGlobal last week. The company is expecting the U.S. ad market to rise 4.1% for the year.  MagnaGlobal analysts have been predicting that revenue from political campaigns would help fuel growth. Now that we’re moving into the important holiday season with retailers expecting at least a small sales increase over 2009, advertising should increase in that sector as well.

According to MagnaGlobal, TV and online media space will achieve the best growth results. Look for TV to end the year with a 13.4% increase to $58.6 billion and for online to reach $25.6 billion, registering a 12.1% growth rate.

[Sources: 2010 Ad spending projected to rise 4.1%. BtoBonline.com. 19 Oct. 2010. Web. 26 Oct. 2010; ZenithOptimedia ups global advertising forecast. Reuters.com. 18 Oct. 2010. Web. 26 Oct. 2010]