Global economic issues are hitting adspend in many arenas but the internet is continuing to grow as a medium, a new report shows.
Aegis Media has revised its global advertising expenditure forecast for 2008 by just over a percentage point. It now expects global promotional spending to grow by 4.8 per cent this year, rather than the previously anticipated 4.9 per cent.
That may not sound like a vast amount but when you consider the epic levels spent in total across the planet, we are talking about a huge dip.
What really interests me, though, is Aegis Media’s assertion that internet-based promotions are driving spending.
Jerry Buhlmann, the chief exec of the firm, said: “With search now central to the planning and execution of any campaign, online media brings a greater level of accountability not just to itself but to TV, print and other forms of advertising.”
It is an exciting time for marketers. Never before has a medium allowed such levels of control and analysis as the internet – it is small wonder growth is so considerable.