Online advertising in the US is set to nearly double to $16.1 billion by 2009, according to a new report from market research firm JupiterResearch, but not at the expense of traditional advertising medium.
As well as an increase in revenue, online can expect to increase its share of marketers’ budgets from 3.5% last year to 6.5% by 2009.
The report shows that internet advertising will grow by 27% this year to $8.4 billion, with paid search listings and display advertising forecast to experience the most rapid growth.
Throughout 2004, the search market is expected to grow 34% to $2.6 billion and by 2009, the market will hit $5.5 billion, says Jupiter, while display advertisements and online classifieds will each grow by over 25%.
Jupiter attributed the growth in online to increased ‘sophistication’ about online advertising, along with widespread adoption of targeting technologies and accurate measurement and planning tools, making it easier to create and track internet campaigns.
A separate report issued this month from Jupiter Media said, online advertising in the US is set to overtake advertising in the magazine sector in 2008 by over half a billion dollars (see US Online Advertising Will Surpass Magazines By 2008).
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