With Radio Revs Stalled, Internet Surpasses
March 31, 2009 at 5:27 AM (PT)
Internet advertising rose in 2008, according to a report released MONDAY, but the growth is starting to flatten, reports THE NEW YORK TIMES. "The economy has had a significant impact on the short-term growth of the Internet advertising market," PRICEWATERHOUSECOOPERS Partner DAVID SILVERMAN said in a conference call.
Internet advertising in the UNITED STATES grew to $23.4 billion in 2008, an increase of 10.6% from 2007, according to the Internet Advertising Revenue Report from the INTERACTIVE ADVERTISING BUREAU, a trade group representing online advertisers, as well as PRICEWATERHOUSECOOPERS.
Over all, total non-Internet media revenue, including radio, declined 2.4% in 2008 from 2007. Spending in network television declined 3.5%, in national magazines 7.6% and in local newspapers 7.8%.
Though overall growth was strong relative to other mediums, Internet advertising did not have the large increases of recent years.
Internet revenue dipped in the first and second quarters for the first time in four years. And online advertising in 2008 had the lowest growth rate -- 2.6% -- from the fourth quarter compared with the period a year earlier.
As SILVERMAN said, however, "it’s one of the few things that actually grew in the fourth quarter 2008."