US Q3 ad revenues came in at $4.2 billion according to the IAB/PwC. Here’s the release. Here’s the chart ($ Millions):
US online ad revenues (with search at about 40%) are on track to reach more than $16 billion this year, up from $12.5 billion last year. If so, online revenues would be greater than US ad revenues in the following traditional media:
- Print yellow pages (for the first time)
- Consumer magazines
- Business magazines
From the WSJ’s coverage:
The IAB report, prepared in conjunction with PricewaterhouseCoopers LLC, is yet another troubling sign for newspapers, radio and television stations and other traditional media. While the amount of Internet ad spending has grown, an IAB spokeswoman said, it isn’t the result of businesses increasing their marketing budgets. Rather, the report signifies a broad reallocation of traditional media advertising spending to the Internet.
Newspapers especially have seen their fortunes tumble as more advertisers seek out the Internet, where rates are usually cheaper and, as many believe, the advertising is more effective because it can better target individuals.