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Use of alternative media to rise
PQ Media predicts that, by 2012, one dollar in every four will be spent on alternative media as advertising strategies change along with consumer habits.
Advertisers can now reach consumers in places they never could before such as in their pocket, while playing a game and during broadcast programs using a multitude of technologies and devices. In a recently released report, PQ Media refers to this as alternative media and defines it as, "Media buying strategies that attempt to bypass the clutter of traditional advertising and marketing in an effort to reach target audiences, primarily through new media such as the Internet, but also by using alternative means through traditional media such as product placement in broadcast television."
PQ Media's report predicts the use of such alternative media is set to rise at a compound annual growth rate of 17% over the next five years reaching $160.8 billion in 2012. A sluggish economy is partly to blame, says the report.
The sectors in which PQ Media expects to see the biggest gains are online search and event sponsorship. Online search is predicted to grow 113% to $26.1 billion by 2012 and event sponsorship to more than $33 billion, or 72%.
“By 2012, we anticipate one out of every four dollars spent on advertising and marketing will be earmarked for alternative media,” said Patrick Quinn, president and CEO of PQ Media.
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