ZenithOptimedia has announced their 2008 advertising forecast and there’s great news for those who make their money from the online world, but it radio advertisers might want to start looking for a new job. Although still in single digit grow, 4.1 percent in the US and 6.7 percent globally the Internet is still predicted the place to be in 2008, mainly due to the Presidential election and the Olympics. According to AdAge global online ad spending will rise to $44.6 billion in 2008 from $36 billion today. The Internet’s share of the global ad market will grow to 9.4 percent from 8.1 percent currently.
“We predict internet advertising to pass three milestones over the next three years,” ZenithOptimedia’s forecast said. “We expect it to overtake radio advertising in 2008; to attain a double-digit share of global advertising in 2009; and to overtake magazine advertising in 2010, with 11.5% of total ad spend.”
While this is good news and helps advertisers know where to focus their budgets, the data is slight skewed and is dependent on factors that will only occur in 2008, what happens in 2009 to continue the growth? Then again, towards the end of 2009 I do predict that we’ll start to see signs of the next recession to hit North America.