In a remarkable feat of resistance against ailing global markets, online advertising spending grew 2% in 2009 to a size of $55.2 billion according to an eMarketer study. Although the growth in 2009 was minimal, it stands in contrast to a decrease in total media spending.
But eMarketer believes growth in the online ad sector will pick up considerably as the global economy continues to strengthen. In fact they are predicting growth of more than 10 percent every year through 2014 when the industry will be worth a staggering $96.8 billion.
“By 2014 eMarketer forecasts that figure will leap to $96.8 billion, growing at an 11.9% compound annual rate, despite the slow, uneven and fragile global economic recovery,” remarked Jared Jenks, author of eMarketer’s new report Worldwide Ad Spending. “These rates will be unmatched by other media.”
The report also predicts that in 2014, the online advertising sector will represent 17.2% of the global ad industry, up from 11.9% in 2009. This growth will be further aided by an overall decrease of 10.5% for all media and the sluggish state of the global economy.
“The reasons for this growth in share are clear,” stated Jenks. “Online is more measureable, more effective and where people are increasingly spending their time.”
via eMarketer
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