NEW YORK: Web researcher eMarketer has yet again revised down its estimates for 2008 US online adspend. It now says the total is likely to be $24.9 billion (€16.6bn; £13.3bn), a slight decrease from its March prediction of $25.9bn.
Last October the firm was forecasting this year's total online adpsend at $27.5bn.
Despite the general economic gloom, eMarketer remains relatively upbeat on prospects for the market and believes growth of 17.4% is achievable in 2008: not bad but nowhere near the dizzy heights of recent years when the medium has enjoyed annual expansion of between 20% and 30%.
Says eMarketer senior analyst David Hallerman: "Even as the potent mix of a misfiring economy and consumers' changing media habits shave advertising dollars from traditional venues, such as newspapers and television, internet ad spending will continue to grow rapidly."
Data sourced from Adweek (USA); additional content by WARC staff