US ad spending will rise by 3%, including revenues from the Olympics and spending on elections, to $164.5 billion, according to Magna (via MediaPost).

Magna now expects U.S. advertising growth to average 3.5% through 2015.

Internet, TV Strongest Media

The fastest growth will come from:
—Internet, which will grow 12.8%, with search up 16.8%
—Local television, now expected to grow 16.2%
—Television, which is predicted to jump 10.2%

Print Still to Suffer

Print is expected to continue its decline:

—Magazines will slide 6.9%
—Newspapers will slip another 11%
—Local papers will fall 10%