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Spending on internet advertising will overtake radio spending in 2008, according to Steve King, head of Publicis Groupe SA’s ZenithOptimedia unit.
In a couple of years, it will surpass magazines, King said (via Bloomberg) at a presentation to analysts in Paris today.
Online spending will grow 26 percent in 2008, with 9.5 percent of advertising budgets worldwide to be allocated to online media. Radio will account for about 9 percent of advertising budgets this year.
Most of the growth will come from search-related ads, he said.
Rising internet use - 19 percent of the world’s population will have access to the web this year, compared with 17 percent last year - will drive online ad spending.
Earlier this year, TNS also predicted that radio’s share of advertising will fall to the internet in 2008. The internet has already surpassed radio in many markets, including the U.K., where it accounts for 16 percent of advertising expenditure (per the Advertising Association’s Advertising Statistics Yearbook 2008).
Publicis has said that digital advertising will account for 25 percent of the company’s saes by 2010. This year, digital accounted for 18 percent of revenues in the first quarter, up from 13 percent last year.
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