Global Internet ad spending to outpace radio in 2008

Global spending on Internet advertising lags spending on TV, newspapers, magazines and radio but will overtake spending on radio next year, according to a new report.

Internet ad spending will have grown six times faster than traditional media between 2006 and 2009--from $24.4 billion to $42.9 billion--and its share of the total ad market will jump from 5.8 percent to 8.7 percent, according to March statistics released by ZenithOptimedia, a London-based media services company.

Internet ad spending is projected to grow 28.2 percent this year, while the rest of the market grows only 3.7 percent.

Besides the Internet, only cinema and outdoor advertising are projected to grow faster than the overall market by the end of 2009. The fastest-growing ad markets are in the Middle East and in Central and Eastern Europe, while North America has the slowest-growing market.

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