It’s shaping up to be a bigger and better year for ad spending in 2024. The U.S. presidential election is boosting political spending, and other key factors like retail media, social video, sports programming and streaming are adding fuel to the economy.

Major ad forecasters have predicted improved U.S. media spend totals for 2024, citing better business conditions. IPG’s Magna Global, which issues quarterly ad-spend forecasts, said in September that it expects the U.S. ad market to total $377 billion this year, an improvement of 11.4% year over year. Forrester’s 2024 forecast cited 6.6% growth this year to $357.3 billion.

On a worldwide scale, GroupM expects global ad spending to grow 7.8% in 2024 to $989.8 billion, excluding political advertising — a notable bump from its original 5.3% growth forecast.

The agencies Digiday surveyed for this third-annual media agency report said they’re seeing positive spending among their clients, reinforcing these predictions. More than one-third of agency respondents (36%) said clients increased budgets this year. That’s despite sticky inflation and high borrowing costs putting a damper on consumer spending for at least the first half of the year.

Read the full report in Digiday.