A stronger general global economy in 2015 will likely just about compensate for the lack of a World Cup or major sports events, says research from MAGNA GLOBAL.

The strategic global media unit of IPG Mediabrands predicts that globally, media owner advertising revenues will grow by 4.8% in 2015 to $536 billion. Yet the analyst notes that if realised it would still represent a slight fall on the pace shown in 2014 which is likely to be 5.5%.

Looking at the TV market specifically, MAGNA GLOBAL says that non-recurring sports events of 2014 contributed to a global growth of TV of 5.2%. Interestingly, the research found that the FIFA World Cup was a clear positive in some markets like the UK and the US, but it was neutral in Germany and below expectations in Brazil. The Winter Olympics and mid-term elections bonanza proved below expectations in the US.

Overall it calculates that US media owner TV advertising revenues (2014-2016) will amount to $66.654 billion by the end of 2014, a growth of 4.8% and giving TV a market share of 40.4%. In a year's time the TV market is projected to slip slightly to $65.706 billion before responding with a 4.7% increase to $68.825 billion. In 2015 and 2016 TV's market share will likely be 38.8% and 38.5% respectivley.

By contrast, in 2014 online video is expected to take a 2.3% market share and be worth $3.812 billion, growing 27.8% annually. Growth in 2015 is expected to be even stronger at 42.5% generating $5.433 billion and leading to a 3.2% share.