Market researchers Outsell predict that online advertising will overtake print advertising this year in the US for the first time.
With the seemingly inexorable rise of online advertising, digital is quickly becoming the dominant force in advertising and pushing other forms of media aside. Ad spend online is expected to hit nearly $120 billion this year, eclipsing print ad spend of $111.5 billion in a landmark changing of the guard.
Advertising within print has been on a steady decline in the US for years, and 2010 should see the market shrink by a further three per cent as resources are shifted to other advertising platforms. Online spend meanwhile is predicted to grow by 9.6 per cent, becoming the second most powerful advertising media in the US behind TV.
Last week, the Pew Research Center showed the fall of print news at the hands of online news. In a correlation, advertising numbers follow the same trend. In the UK, online marketing has become the most prominent form of advertising, even overtaking TV ad spend, and it will surely be only a matter of time before the US follows suit.
“Advertisers are directing dollars toward the channels which generate the most qualified leads and most effective branding,” commented Outsell’s lead analyst Chuck Richard to The Guardian, “As they emerge from the recession, they need more accountability, and they’re spreading their spending over a widening set of options.”
Overall Outsell predicts that digital ad spend will take 32.5 per cent of marketing budgets for the majority of companies in the US this year.