Internet Spending Down
June 8, 2009 at 5:17 AM (PT)
Finally succumbing to the recession, online ad spending has suffered its first quarterly year-on-year decline in seven years, reports THE NATIONAL BUSINESS REVIEW. Figures collected by the U.S. division of the global INTERACTIVE ADVERTISING BUREAU and audited by PRICEWATERHOUSECOOPERS, revealed a 5% fall in online ad spend to $5.5 Billion for the first quarter of this calendar year.
Last year, online ads grew 11% is the U.S., the slowest rate of increase since 2002.
For the whole of 2008 internet ad spending was up 22% as online closed in on radio and magazines. The IAB says the quarterly decline is not systemic. It expects growth in online advertising to resume once the recession lifts.