ZenithOptimedia released a forecast Monday stating that online video and local search will drive 30% growth in online ad spending this year. ZenithOptimedia had this to say in their report: “We have revised our forecasts for Internet advertising upwards yet again, we now forecast 29.9% growth this year (up from 28.6% three months ago) and 85% growth between 2006 and 2009 (up from 82%). Online video and local search are the new, fast-growing segments, but display, classified and the rest of search are still growing rapidly as well.” The forecast goes on to point out that the share of worldwide ad spending for newspapers will decline, again
This report is only the latest I have read that predicts continuous growth in interactive ad spending. In fact I think that this report is conservative in its estimates. We are only starting to see the possibilities online video brings to advertisers with new technologies and ad opportunities popping up every month. Just think of all of the syndicated content that has yet to reach the public. User generated content has created the interest but professional shows will be the true driving force behind the innovation and growth that we will see in the future.
