Internet Advertising to Grow 20% in 2008

A new report from Bernstein Research says online advertising in the U.S. will grow by 20% in 2008, despite weakness in travel, auto, and financials.

Top categories for online advertising spend include:

Finance, insurance, real estate - 29.6% of overall spend
Media and entertainment - 25.2%
Retail - 13.8%
Other - 12.9%
Auto - 8.6%

Despite big cuts in auto marketing in broadcast and print, online ads for automakers were actually up 3.8% in the first quarter. (see my blog post about auto advertising online, and why it works)

According to Bernstein’s forecast, even a significant worsening in overall economic conditions wouldn’t deter Internet advertising growth much. In a full-blown recession scenario, they predict online ads would still grow by 17%. (See my blog post on “Why Digital Marketing Will Thrive in a Recession” for more on this topic).

The Question for Agencies…

This research begs an obvious question for agencies? Are there other elements of your business that are likely to grow by 20% this year? If not, is it time to ramp up your digital capabilities?

Any agency readers of Convince & Convert care to comment about their digital progress in 2008?

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Jason Baer

Tags: ad agencies, advertising agencies, digital marketing, integrated marketing, Internet Advertising, internet media buying, media mix, online media, recession proof marketing, traditional agencies

This entry was posted on Wednesday, August 13th, 2008 at 11:20 am and is filed under Digital Media, Integrated Marketing and Media, Internet Advertising. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Internet Advertising to Grow 20% in 2008”

Wake Up Agencies - Digital Shops = Trojan Horse | Agency Promotion | Digital Marketing Training - Convince & Convert Says:
September 2nd, 2008 at 10:41 pm
[...] marketing is going to grow. That’s unquestioned (see blog post about growth rate). But the smart digital agencies aren’t satisfied with consuming that piece of the marketing [...]

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