Internet advertising ‘not going to get any worse,’ Yippee?
ADOTAS — In a sea of bad economic news, I guess that’s as good as it gets.
Worldwide spending on Internet advertising contracted for the second consecutive quarter, by 5%, to $13.9 billion from $14.7 billion in the same quarter a year ago, according to market research group IDC. U.S. spending declined for the second quarter in a row, by 7% year over year, to $6.2 billion from $6.6 billion.
All major advertising formats saw year-over-year revenue losses, with search ads being least affected, display ads losing 12%, and classifieds shrinking 17%. All major publishers’ ad sales declined, for the most part at double-digit loss rates, with Google being the only exception, posting low single-digit growth. Monster.com saw a 31% decline, suffering from the terrible condition of the classifieds business in the current downturn, and AOL was also hit hard, by both the weakness in display ads as well as internal sales problems.
The IDC expects U.S. advertisers to decrease their online spending quarter over quarter in in the third quarter by about the same amount as they did in the first and second quarters of 2009. But….
“We think the industry will continue to see losses in the third and fourth quarters, but the growth rates – or the loss rates, if you will – will eventually begin to improve. However, we also believe the industry may have to wait until mid-2010 until it sees real growth again,” according to Karsten Weide, program director, Digital Media and Entertainment at IDC.
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