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Online Advertising Booming At 28.8% Growth Rate

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Businessweek's latest article The Online Ad Surge details how the online advertising world is booming. With a growth rate of 28.8%, estimates are that it will end the year as a $9.3 billion industry.
A year ago, media buyers could land discounted space on the home pages of major portals for between $100,000 and $180,000 per 24 hours, say buyers. Now, the cost is reaching $300,000. Forget about discounts. If advertisers are lucky enough to land the space, they often must agree to spend an equal amount elsewhere on the portal. Facing this traffic jam at the top sites, advertisers are jostling for spots throughout the Net.


Although the Internet still takes in only 4.3% of U.S. advertising revenue, surveys indicate that it accounts for 14% of America's media time. And that's not including those who are Web-surfing at work -- a major audience for advertisers.


While the overall ad industry grows at a respectable 7.7% a year, Internet ads are galloping ahead at a 28.8% clip. New York consulting firm eMarketer predicts online advertising will reach $9.3 billion this year -- $5.4 billion of it in brand ads.


From 2000 to 2002, Internet advertising plummeted 25%. But something is decidedly different this time. Since the bust, the industry has pieced together the technology -- from video delivery to customer tracking -- to make good on the shining predictions of the boom. The Net is winning over mainstream advertisers with its computational precision. It delivers hard, quantifiable results measured in clicks and sales -- down to the penny. In the process, it's turning advertising from an art into a science.


Within two years, online advertising is projected to reach $13.8 billion, motoring past the slower-growing magazine industry, according to Kagan Research LLC in Monterey, Calif.


But while DoubleClick fades, scores of companies are storming into the growing world of online advertising. They range from tech outfits that create new forms of banners and skyscrapers to advertising startups that tie together vast networks of publishers, from fishing sites to political blogs.

It's really a great article and my highlights don't do it justice. Go read it.

As always I also have advertising space available. For just $10 bucks a week you can put your ad sitewide on the right navbar of Diggers Realm (premium left navbar is currently sold out, sorry). Click here for details or you can always find the "Advertise Right Here!" link on either navbar should you want to advertise here in the future.

Tipped by: Instapundit

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Posted by Digger on November 16, 2004 03:25 AM (Permalink)

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