Internet advertising to reach $62 billion by 2011 in US
Findings from the Veronis Suhler Stevenson’s 21st Communications Industry Forecast :
Total communications spending expanded at a CAGR of 5.9% in the 2001-2006 period to a record $885.2 billion, driven by strong gains in alternative advertising, marketing, and institutional spending.
While consumer media usage dipped 0.5% in 2006, institutional time spent with media increased 3.2%.
Overall communications spending is projected to grow 6.4% in 2007, exceed $1 trillion in 2008, and post a CAGR of 6.7% from 2006 to 2011.
Television, cable and satellite will continue to command the biggest share of U.S. advertising budgets and are forecast to reach $86 billion in 2011.
The fastest-growing media segments over the next five years will be pure-play Internet and mobile services, branded entertainment, out-of-home media, outsourced custom publishing and public relations, with each producing CAGRs of between 10% and 15% in the five-year period. VSS expects total Internet advertising to reach $61.98 billion in 2011, surpassing newspapers, estimated at $60 billion by 2011 as the nation’s largest ad medium.
Filed under: Business, Statistics