… but the Internet still looks promising!
Ad spending was originally forecasted in April 2009 to decline by 6.9% this year, but recent studies show it may be worse than we thought… Zenith is now estimating a drop of 8.5% worldwide.
Zenith now predicts total worldwide spending for 2009 will be $456.5 billion, down from nearly $500 billion last year.
Although some markets may be declining, others are growing. The internet is one medium that is not seeing a decrease in ad spending this year… it is actually growing (rising to an estimated $56.8 billion worldwide!).
As traditional media continues on this downward slope, digital media is only gaining speed. The internet has given brands an opportunity to connect with customers in a way traditional media couldn’t.
Source: eMarketer, July 13, 2009