Online ad spending to reach $61.8 billion this year
According to a new report from eMarketer, online advertising spending will reach double-digit growth in 2010, reaching $61.8 billion worldwide.
Online advertising spend increased by 2% in 2009 to $55.2 billion.
By 2014, the report estimates that online ad spending will reach $96.8 billion, increasing at an 11.9% compound annual rate.
The internet’s share of total ad spending worldwide will increase from 11.9% in 2009, to 17.2% in 2014.
Total media advertising spending worldwide decreased by 10.5% in 2009, to $465.1 billion. This year will bring growth of 3.8%, but spending will not return to 2008 levels until 2012.
Jared Jenks, analyst at eMarketer, said:”In some ways, the recession has propelled online advertising by forcing marketers with limited budgets to make every dollar count. Marketers now see online as more measurable [and] more effective.
“The internet is right on the heels of television when it comes to where audiences are spending their time,” Jenks added. “Even while ad spending as a whole was undergoing cutbacks last year, online ad spending was still growing and gaining share.”
This follows predictions that UK online ad spending will reach £3.8 billion this year.