IDC has released new projections for global internet ad spending. This year, they expect internet advertising to reach $65.2 billion, which accounts for roughly 10% of all ad spending. And despite current economic woes, spending will continue to increase. By 2011, the worldwide spend is expected to exceed $106 billion.
Earlier this month, IDC released data showing that online advertising was up 23.9% in the first quarter of 2008 over the same period in 2007.
"Compared to more mature types of advertising, Internet advertising is growing at a phenomenal rate," said John Gantz, chief research officer at IDC. "But Internet advertising is still relatively new and growing from a much smaller base. By the end of the forecast period, spending for Internet advertising will trail direct mail – the third largest form of advertising – by more than $30 billion, while spending on TV and print ads will each be nearly twice as great as for online ads. The long-term opportunity for Internet advertising can be seen in the disparity between per capita spending. Total advertising revenues equate to more than $105 per inhabitant of the planet, while Internet advertising revenues are less than $50 per active Internet user."