Growth in online adspend is expected to outstrip that in any other British medium next year, according to new forecasts from Initiative Media.
The media planning/buying network is predicting a 48% surge in web advertising, after a 16% drop in 2002. “Recovery is expected in 2003 with the medium still in a healthy state,” said Initiative. “Advertisers are keen on seeing a return on their investment, especially during times of recession, and online's accountability helps ensure this.”
The agency believes overall UK spend will rise 4.6% in 2003 – a more optimistic forecast than Zenith Optimedia’s 2.1%.
Radio is expected to fare the worst, rising only 3%, while press advertising will also report below-average growth, climbing 3.5%.
Should the latter forecast come to pass, press spend will return to the 2000 boom levels. However, Initiative believes the total advertising market will not achieve such a feat for another three years.
Data sourced from: MediaGuardian.co.uk; additional content by WARC staff