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April 2, 2007 3:00 am
Internet advertising is forecast to overtake worldwide radio advertising a year early, having already surpassed national newspapers in the UK and Sweden.
A new global advertising forecast published today by Zenith Optimedia, the media buying network, predicts the web will surpass radio advertising next year rather than in 2009, as the media buyer believed only three months ago.
The web's prospects contrast markedly with zero growth in advertising for US newspapers in 2007 by Zenith and its downgraded expectations for US and UK advertising this year.
Predicting that global advertising will grow this year by a nominal 5.2 per cent, Zenith has cut its forecast for annual growth in the US, the world's biggest advertising market, this year from 4.1 per cent to 3.4 per cent. In the UK, it cut from 3.7 per cent to 2.4 per cent.
In the US, it cited an underperforming press sector but said the Beijing Olympics and the presidential election could boost growth in 2008.
It said UK media owners had failed to convince advertisers to take advantage of falling rates on television and press.
Online advertising is estimated to grow worldwideat an average 28.2 per cent this year or more than six times the average increase of 3.7 per cent envisaged for traditional media.
In 2009, the forecaster estimates that the internetwill account for nearly9 per cent of advertising worldwide.
In the UK, the world's most-developed internet advertising market, the internet's share of all advertising could be 22.6 per cent in 2009 - more than double the most recent figure.
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