ZenithOptimedia cut its growth forecast for 2005 global advertising spending to 4.7 percent from 5.4 percent. The main reason behind this change is connected to the declining interest in US network television. Reuters reports total 2005 ad spending is now seen at $403.9 billion, with an increase of Internet advertising which is expected to “subtract” $3.6 billion from traditional media.
The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC) today announced that online advertising revenue in the United States for Q4 2003 totaled an estimated $2.2 billion, with revenues for the year 2003 are estimated at $7.2 billion. Greg Stuart, President & CEO of the Interactive Advertising Bureau, quoted in the press release, declared:“I’m not at all surprised at these revenue numbers. Our medium is such that we should expect this positive performance. Based on sound business principles the industry has grown up and become a great competitive advantage for those marketers who have been paying attention. Not exactly a secret weapon any longer, our medium continues to lead where others have fallen off, and smart marketers know it, and are shifting dollars and gaining share.”
Overture’s business is getting serious and serious, but the skepticism still remains. As Michael Liedtke writes today on San Mateo County Times Online Wall Street is worried the 6-year-old company will become obsolete almost as quickly as it emerged as a pioneer. Despite this premise, the article provides plenty of positive information concerning Overture’s business, especially considering the fact that pay-for-performance search is expected to attract as much as $2 billion in Internet advertising this year, up from $100 million just three years ago.
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