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BizReport : Advertising : October 03, 2007
Local search, video will drive online ad spending
Marketers can look for a large boost from local search and online video in the coming year. According to a new forecast from ZenithOptimedia, marketers will see a 30% increase in the online ad spend from local search and online video.
That growth will help online advertising reach more than $33.7 billion worldwide. Between 2006 and 2009, forecasters at ZenithOptimedia expect to see 85% growth from online ads. According to the forecast, by 2009 online ad spending will account for 9.5% of the total ad spend worldwide.
While the online spend increases, forecasters predict that the newspaper ad spend will decline by 29%. Magazines will also see a decline, as will radio according to the report. However advertisers can expect television to see a slight increase in ad spending as will the outdoor advertising sector.
This isn't the only forecast to predict strong online ad growth while more traditional forms of advertising show either very slow growth or actual declines in ad spending.
In September, eMarketer predicted that the local online ad spend would grow to reach $2.8 billion this year and by 2011 to reach $7.8 billion. Veronis Suler Stevenson also predicts that the Internet will soon be leading advertising efforts. According to that report the total online ad spend will reach $61 billion in 2011.
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