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Internet Advertising Spending to Double its Share by
2010
Interactivity and Targetability Are Key Merits for Winning Ad
Formats
Spending on Internet advertising will account for 10% of total U.S. ad
dollars in 2010, doubling from 5% in 2004, according to
The Changing
Face of Advertising in the Digital Age, a new report from Parks
Associates. This increase represents a CAGR (compound annual growth rate)
of 14% over the next five years.
The report, which includes data from Parks Associates’ consumer study
Digital Entertainment: Changing Consumer Habits, also finds that
almost 21% of Internet users consider Internet advertising as the most
relevant ad format for them, outscoring more traditional media formats
such as newspapers, magazines, and radio.
“In the next few years, the Internet will become a mainstream ad
platform and attract top dollars from advertisers,” said
Harry
Wang, research analyst at Parks Associates. “Because the
Internet is an interactive and versatile platform and offers rich consumer
usage data, advertisers can improve their ad targetability and achieve
better results.”
Such benefits are extremely important to advertisers, who have been
plagued by audience and media fragmentation and a lack of in-depth media
consumption data from traditional ad formats. Many large companies with
familiar brands, including Anheuser-Busch, Procter & Gamble, Verizon, and
Wachovia, have been moving money out of network TV and to the Web,
demonstrating advertisers’ growing confidence in Internet advertising.
“Traditional media companies are fully aware of this ongoing change in
the advertising industry,”
Wang said. “The
Internet has altered the standard for the entire ad world, and traditional
media have to respond by making their media platforms more interactive and
results-oriented.”
The
Changing Face of Advertising in the Digital Age is a comprehensive
industry report analyzing the paradigm changes taking place in the
advertising industry. It probes the challenges and opportunities created
by digital technologies, examines new advertising solutions and business
models, analyzes consumer uptake, and predicts industry growth patterns
and winning solutions.
The
Digital Entertainment: Changing Consumer Habits project is an
Internet-based survey of 2,084 U.S. consumers in households with Internet
access, including 270 teenagers ages 13-17. The study analyzes consumer
behavior for digital entertainment in the home, including product
purchases, service subscriptions, use of home computers and the Internet
for multimedia purposes, and interest in new Internet- and carrier-based
services.
For additional information on
The Changing
Face of Advertising in the Digital Age or
Digital Entertainment: Changing Consumer Habits, visit
http://www.parksassociates.com
or contact 972-490-1113 or
sales@parksassociates.com.
About Parks Associates: Parks Associates is an
internationally recognized market research and consulting company specializing
in emerging consumer technology products and services. Founded in 1986, Parks
Associates creates research capital for companies ranging from Fortune 500 to
small start-ups through market reports, primary studies, consumer research,
custom research, workshops, executive conferences, and annual service
subscriptions.
The company's expertise includes new media, digital
entertainment and gaming, home networks, Internet and television services,
digital health, mobile applications and services, consumer electronics, and home
control systems and security.
Each year, Parks Associates co-hosts executive thought
leadership conferences CONNECTIONS™ and CONNECTIONS™ Europe in
partnership with the Consumer Electronics Association (CEA®). In addition, Parks
Associates produces the online publication Industry Insights in
conjunction with the CONNECTIONS™ Conference series.
http://www.parksassociates.com |
http://www.connectionsconference.com |
http://www.connectionseurope.com
|
http://www.connectionsindustryinsights.com
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