Advertising Industry Growth Slows, But Online Spending Continues to Grow
The ad tracking firm TNS Media Intelligence issued a downward revision to its 2007 ad forecast, calling for a modest 1.7% rise to $152.3 billion. The previous forcast issued in January had called for a growth rate of 2.6%.
TNS Media Intelligence President-CEO Steven Fredericks says demand from U.S. advertisers “has moved onto a slower track than we thought possible just six months ago.” But he added, “We expect the overall pace of activity will pick up slightly in the second half of the year.”
Regardless, Fredericks noted that U.S. marketers continue to fuel growth in digital media spending – particularly online – at the expense of traditional media. Online ad spending is projected to rise 16% this year.
That means the spending for online advertising is expected to increase 2.7 times more than the next most robust advertising industry- cable network TV growing at 5.9%. These forecast are bolstering a world wide trend of shifting advertising dollars into the online arena.
This is a trend that seems to be gaining stregth as those in the industry who plan marketing campaigns seek to reach their target audiences through a richer diversity of media. In most aspects it is the degree of interactivity that determines our possitive response to any form of advertisement.
Apparently, in the brave new world we live in, markets will be determined less and less by the push of marketers and advertisers, and more and more by the pull of consumers. In other words, companies can now use the interactive nature of the internet to listen to their customers wants as opposed to telling customers about faux-needs.
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