Internet Advertising to Overtake Radio Spending

Forecaster sees $$$ shift happening by 2008
By Laila Weir,  Newser User
Posted Dec 3, 2007 2:46 PM CST
Facebook CEO and founder Mark Zuckerberg speaks to press and advertising partners at a Facebook announcement in New York, Monday, November 6, 2007. The online hangout said Tuesday it plans to let companies...   (Associated Press)
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(Newser) – Spending on Internet advertising will overtake radio advertising next year, a forecaster predicted today. A major advertising agency CEO said the Internet would get 9.4% of the ad market worldwide in 2008, compared to 7.9% for radio, reports AP. The two media are neck-and-neck this year, with 8.1% and 8.2%, respectively.

ZenithOptimedia's chief said he expected 6.7% growth in global advertising spending next year, despite a slowing economy. He attributed this partly to the US presidential election, the Olympics, and the European soccer championships, which he forecast together would add $6 billion in ad spending worldwide. He said emerging markets accounted for the most growth, with slower growth in developed markets.