A Turnaround for the Industry
January 2, 2011 Leave a comment
The trends that were remaking the industry before 2008 appear to be picking up where they left off. That means this year is likely to bring rapid growth for spending on ads in new media, resumed growth for spending on television advertising and struggles for print media, particularly newspapers.
According to data from Kantar Media, advertising expenditures for all media for the first half of 2010 increased 5.7 percent from 2009 to about $63.6 billion. Television advertising led the pack in spending because of an increase in demand from the automotive and retail markets, and political advertising.
Spending on advertising in local newspapers showed a significant decline over the last 19 quarters, with a 4.6 percent decrease for the first half of 2010 compared with the same period in 2009, according to data from Kantar Media.
For the first time, advertisers are projected to have spent more on online ads than on newspaper ads in 2010, according to data by eMarketer.
“The bad economy has actually accelerated the shift to digital advertising,” Geoff Ramsey, the chief executive of eMarketer, said in a statement. “Online ads, especially search ads, are increasingly seen by many marketers as a more reliable bet than print ads, which are often difficult to tie to a measurable financial result.”
- A Turnaround for the Industry (e1evation.com)
- Online advertising spending to overtake spending on newspaper ads for first time (techvibes.com)
- Online Advertising Overtakes Print Ads For First Time (dailyfinance.com)
- Online ad spend overtakes newspapers – eMarketer (newsinfo.inquirer.net)
- The Web Passes Newspapers in Ad Spending For First Time (emarketer.com)