Good news for the Don Drapers of the world (also, the magazines and newspapers of the world)! Spending on advertising rose a healthy 5.1% year over year for the first quarter of 2010, registering a gain for the first time in two years, according to a Kantar Media study reported by The New York Times.

Spending by blue-chip companies like Procter & Gamble, AT&T and Pfizer contributed to the quarterly gain, as did a rebound in ad buys by General Motors.

Sunday newspaper magazines, national newspapers and Spanish-language newspapers were among print properties to register gains. Local newspapers, local mags and B2B publications suffered losses.

(h/t Romenesko)