The following article was originally posted on the Nasdaq website. While I don’t agree with the numbers reported here, the basic story is right, and gives you an insight on the Interactive Ad industry and the challenges advertisers are facing due to the current state of the economy.
The Online Advertising industry has managed to buck the slumping economy with this week’s announcement that revenues climbed to $6 billion in the third quarter of 2008.
The $5.9 billion in revenues represent an 11 percent gain over the third quarter of 2007, although the current figures are only two percent higher than they were in the second quarter of this year.
“Interactive advertising continues to be the most measurable and cost-effective way to reach consumers, and we see more and more marketers seeking to harness its power,” said Interactive Advertising Bureau President Randall Rothenburg. Still, Rothenburg also acknowledged that growth in advertising revenues had “stabilized” due to the current economic climate.
Total online advertising revenues have nearly tripled since 2000 and exponentially since such tracking began in 1996, when online advertising revenue for the entire year was reported as $267million.
David Silverman of PricewaterhouseCoopers LLP also cited the economy as an ongoing challenge for any type of advertising, but suggested that internet ads are “better poised to withstand the storm” because of its “ability to combine performance-based advertising along with broad-based branding.”
Traditional media advertisers are losing their dominance of the industry as more businesses are moving to Online Advertising, this creates a big opportunity in Local Online Advertising
© Steve Renner- Internet Marketing Strategy - Services
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- Tags: Advertisers, business, Internet, local, online, Opportunity
4 Responses to Internet Advertising Growing
Catch The Wave With InetGlobal by Steve Renner
March 8th, 2009 at 6:28 am
[...] main core service of iNetGlobal is Online Advertising which [...]
Richard Clark
March 8th, 2009 at 4:15 pm
The current economic conditions have really affected marketing and advertising spend and behaviour.
Internet advertising has sufferred at an aggregate level with spend going down. However this has largely been driving in the UK by sub-prime lenders large removal of advertising funds.
I think if any medium will thrive in these times it has to be online. I do agree with Steve that the numbers don’t look 100% robust but the message is clear.
Chaos Cake » Blog Archive » The Second Death of Internet Advertising
March 25th, 2009 at 8:04 am
[...] Apparently the internet ad market is taking a dive again. The same thing happened the last time the economy tanked, and the question of how to pay for all the stuff on the net has returned. There is plenty of debate over the reasons, as people in business usually do when they percieve their gravy train coming to an end. Maybe it’s just the economy, some flaw in the model, or maybe, if you work on wall street, it’s not really happening at all. [...]
Steve Renner
March 27th, 2009 at 2:49 am
I hate to disagree with you guys, but I think Internet Advertising is booming, with no signs of slowing down. I know our business has Exploded, since introducing Online Advertising. There is an insatiable demand, and a wide open market for this.
This is why we have focused our energies and resources on expanding our Advertising business, namely with our Search Engine http://www.acesse.com
our Surf Engine http://www.inetsurf.com and our latest offering, http://www.v-local.com - our Local Business Directory.
Steve