Online advertising spend in the US is set to outgrow the amount spent in newspapers by 2011, according to a new study.
Figures from the Veronis Suhler Stevenson (VSS) report predict that internet advertising will grow by more than 21 per cent per year to reach a total of $62 billion in 2011, exceeding the predicted $60 billion spent on newspapers.
It was also shown that spending on alternative advertising, including internet, mobile, video games and digital out-of-home, grew by 36.6 per cent last year to $26.53 billion. In stark contrast, traditional advertising spend only grew by 2.4 per cent to $183.21 billion over the same period.
James Rutherfurd, executive vice president and managing director at VSS, commented: “Leading national advertisers have accelerated their diversion of dollars from traditional print and broadcast media to alternative digital platforms to combat media and audience fragmentation, increased consumer control and multitasking, and the growing impact of advanced technology on conventional media models.
“The result has been the extraordinary growth of alternative advertising and marketing.”
A separate survey by Burst Media highlighted the fact that the internet has become very important in many women’s lives, which is great news for internet advertisers.
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