PricewaterhouseCoopers releases a new report suggesting that spending on Internet Advertising will rise by 20 per cent this year, with expenditure on search to soar by 30 per cent. It cited the attractiveness of the online medium’s return on investment compared with other marketing channels as one of the main reasons for this predicted growth in the face of the slowing economy.
Yahoo!announced the launch of a new ad platform allowing businesses to buy and sell display ads from one web-based service. The APT platform is currently being used by a small number of local US newspapers and will be rolled out to more customers in 2009.
MySpace finally launched its long-awaited music service, MySpace Music, which offers free streaming and paid-for downloads, as well as a range of tickets and other merchandise. Users can build their own playlists and the service is primarily ad-supported.
Meanwhile, Hitwise released new figures showing that the credit crunch is prompting large numbers of Britons to look on the internet for money-saving deals and vouchers, as well as online sales.