TimmyH
Internet humbles Radio in Advertising Spending
September 22nd 2008 01:44
It appears that advertisers have begun to understand how to use the Internet as a marketing tool. Data released by Carat in the UK has revealed that the Internet will surpass Radio this year in advertising spending to become the third biggest medium for paid content.
The only areas to see increases in spending this year are Online and Cinema, with Print suffering badly but still maintaining second place behind the industry leading, Television. But Internet spending has grown considerably and after taking radio, Magazine and papers are next to face the wrath of the virtual ad.
Jerry Buhlmann, chief executive of Aegis Media, which owns Carat, said: “Internet advertising is continuing to drive spending ahead of other sectors in nearly every region. Internet is set to overtake radio this year to become the world’s third most popular medium, behind TV and print.
“But changes in consumer behaviour aren’t the only reason for this. With search now central to the planning and execution of any campaign, online media brings a greater level of accountability not just to itself but to TV, print and other forms of advertising. This is why we are predicting further strong growth for internet, even when advertisers are cautious in many of the other sectors.”
While advertising spending is still growing worldwide, the rate of growth appears to be in decline, with projections saying that a global downturn could be in the offing this financial year.
Buhlmann said: “It’s clear that the worldwide economic issues affecting businesses are having an impact on where and how advertisers spend their money. It is also significant that the US and the UK, as the highest spenders on advertising in their regions, are showing reductions in our forecasts. But overall, the picture is still one of growth.”
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The only areas to see increases in spending this year are Online and Cinema, with Print suffering badly but still maintaining second place behind the industry leading, Television. But Internet spending has grown considerably and after taking radio, Magazine and papers are next to face the wrath of the virtual ad.
Jerry Buhlmann, chief executive of Aegis Media, which owns Carat, said: “Internet advertising is continuing to drive spending ahead of other sectors in nearly every region. Internet is set to overtake radio this year to become the world’s third most popular medium, behind TV and print.
“But changes in consumer behaviour aren’t the only reason for this. With search now central to the planning and execution of any campaign, online media brings a greater level of accountability not just to itself but to TV, print and other forms of advertising. This is why we are predicting further strong growth for internet, even when advertisers are cautious in many of the other sectors.”
While advertising spending is still growing worldwide, the rate of growth appears to be in decline, with projections saying that a global downturn could be in the offing this financial year.
Buhlmann said: “It’s clear that the worldwide economic issues affecting businesses are having an impact on where and how advertisers spend their money. It is also significant that the US and the UK, as the highest spenders on advertising in their regions, are showing reductions in our forecasts. But overall, the picture is still one of growth.”
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