Research released by the Commercial Economic Advisory Service of Australia (CEASA) has found that online advertising spend has enjoyed an unexpected surge in the downturn, growing by 27.1 percent in 2008.
Overall advertising spend grew by 3.7 percent in 2008, with free-to-air metropolitan TV the only sector to experience a drop in revenue.
Tony Hale, CEO of The Newspaper Works is pleased with the results, believing that the advertising industry is still alive and well in the downturn.
“These CEASA figures confirm exactly what we’ve been saying – newspapers in Australia have performed very strongly in an extremely tough economic climate.”
Online advertising has also grown substantially in the US, experiencing an increase of 10.6 percent from 2007, according to the latest Internet Advertising Revenue Report from the IAB. The main growth drivers were digital video, along with performance-based ads.
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