NEW YORK: UBS, the investment bank, has cut its growth forecast for global internet ad revenues from 10.4% to 1.4% in 2009 as the economic recession slows the medium's previously unstoppable rise. 

UBS, which is gloomier about online than WARC's most recent forecast, also says global newspaper adspend will fall by 11.7% in 2009. US  titles will fare particularly badly, down 19.4% this year and 11.4% next, in line with dire predictions from leading industry figures.

Globally, magazines will also see advertising expenditure levels drop off by 8% in 2009, compared with a previously-predicted decline of 3% made by UBS last year.

Looking further out, UBS says online adspend growth will recover in 2010, but it has revised the rate of expansion down from 13.8% to 11.2%.

Separately, AccuStream iMedia's "Online Video Media Spend: 2003–2010" report states that total online video media spend in the US reached $2.12 billion (€1.7bn; £1.5bn) in 2008.

This figure was up by over 30% year-on-year, with in-banner platforms most popular among advertisers.

The report assessed online video spending through a variety of platforms, including ad serving engines, viral campaigns and search, and predicts the sector will grow at over 10% this year and next.

Data sourced from Marketing Charts/MediaPost; additional content by WARC staff