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Internet advertising spends to double its share by 2010

MUMBAI: Spending on internet advertising will account for 10 per cent of total US ad dollars in 2010, doubling from five per cent in 2004, according to a new report from Parks Associates called - "The Changing Face of Advertising in the Digital Age."

This increase represents a CAGR (compound annual growth rate) of 14 per cent over the next five years.

 

The report, which includes data from Parks Associates' consumer study "Digital Entertainment: Changing Consumer Habits," also finds that almost 21 per cent of Internet users consider Internet advertising as the most relevant ad format for them, outscoring more traditional media formats such as newspapers, magazines, and radio.

 

 

"In the next few years, the Internet will become a mainstream ad platform and attract top dollars from advertisers. Because the Internet is an interactive and versatile platform and offers rich consumer usage data, advertisers can improve their ad targetability and achieve better results," said Parks Associates research analyst Harry Wang.

 

Such benefits are extremely important to advertisers, who have been plagued by audience and media fragmentation and a lack of in-depth media consumption data from traditional ad formats. Many large companies with familiar brands, including Anheuser-Busch, Procter & Gamble, Verizon, and Wachovia, have been moving money out of network TV and to the web, demonstrating advertisers' growing confidence in Internet advertising.

"Traditional media companies are fully aware of this ongoing change in the advertising industry. The Internet has altered the standard for the entire ad world, and traditional media have to respond by making their media platforms more interactive and results-oriented," Wang said.

"The Changing Face of Advertising in the Digital Age" is a comprehensive industry report analysing the paradigm changes taking place in the advertising industry. It probes the challenges and opportunities created by digital technologies for the advertising industry, examines new advertising solutions and business models, analyses consumer uptake, and predicts industry growth patterns and winning solutions.

The "Digital Entertainment: Changing Consumer Habits" project is an Internet-based survey instrument of 2,084 US consumers in households with Internet access, including 270 teenagers ages 13-17. The study analyses consumer behavior for digital entertainment in the home, including product purchases, service subscriptions, use of home computers and the Internet for multimedia purposes, and interest in new Internet and carrier-based services.

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