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Within a few years, the Internet could replace radio as the fourth-largest medium, behind only television, newspapers and magazines, according to ZenithOptimedia’s new global ad spending forecast for years 2005 to 2008, Media Life reports.
“We don’t think that the internet will overtake radio in our forecast period,” said Jonathan Barnard, head of publications at ZenithOptimedia. “But it will be roughly the same size as radio and catching up fast. It may well overtake within a few years after our forecast period.”
The company estimates that between 2005 and 2008 global internet advertising expenditure will grow 72 percent. As overall global ad spending is forecast to increase 5.6 percent a year, the internet is expected to grow 19.9 percent annually. “The internet is growing three times faster than the advertising market as a whole,” said Barnard.
Though outdoor is expected to grow at a faster pace, internet spending is expected to surpass outdoor advertising by next year. Radio grows at a much slower annual rate, and ZenithOptimedia expects radio spending to fall from 8.5 percent in 2005 to 7.9 percent by 2008.
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