Report: Online Advertising To Reap Rewards of Bum Market
ADOTAS – Interactive advertising continues to be impervious to the economic woes hitting other sectors of the U.S. economy, according to a report from IDC. Total revenue increased by 23.9% to $7.1 billion in the first quarter, compared to the $5.7 billion it raked in the first quarter last year.
Google continued its relentless forward-march with about 24.8% net ad market share in the first quarter, up a few ticks from 23.1% in the same period last year. IDC noted that its domestic net revenue continued to grow faster year over year than most other players, even as its growth rate continued to decline as the company’s major market, search advertising, continues to mature.
“What happens is that the current economic crisis puts pressure on advertisers to save money and find more effective marketing channels,” said Karsten Weide, program director, Digital Marketplace and New Media at IDC. “Effectively, the crisis accelerates the shift of advertising budgets from traditional media into new media.”
Even though IDC said it anticipates that the threat of a potential recession will decrease ad expenditure across all media by as much as 7% in 2008, quarterly online advertising growth will still increase at rates around the 15-20% range in 2008. IDC forecasts that U.S. Internet advertising spending will more than double in five years.
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