The Global Online Advertising Forum, part of this week’s International Advertising Festival in Cannes, was told yesterday that total online ad revenues are set to reach $28 billion worldwide by 2005. Currently at $4.3 billion (1999), the predicted surge in adspend is attributed to the exponential numbers of people going online.

According to the Forum’s sponsor, Jupiter Communications, the forecast spending level makes the internet the first marketing medium to offer global reach - although Jupiter warns that most global marketers will be ill-prepared to leverage the internet to communicate with consumers worldwide.

News source: Advertising Age - Interactive Daily