Internet advertising to grow 24% to $44.6 billion in 2008; to reach $61 billion in 2010

Internet advertising worldwide will grow 24% to $44.58 billion in 2008 from $36 billion in 2007 and will reach $61 billion in 2010, with 11.5% of total advertising spending. According to ZenithOptimedia prediction. The internet wills nearly double its share of global ad spending between 2006 and 2010, at the expense of most of the other media.

ZenithOptimedia is expecting that the internet advertising will overtake radio advertising in 2008, and in 2010 the internet will overtake magazines to become the world’s third-largest advertising medium.

Internet advertising already takes over 15% of the advertising expenditure in four markets - Denmark, Norway, Sweden and the UK, and by 2010 will take more than 20% in those markets.

The global advertising expenditure will grow 6.7% in 2008 to $485.6 billion. The ad market will be boosted by US$6 billion in spending from the ‘quadrennial events’ in 2008: US$3 billion from the Olympics in China, US$2 billion from the Presidential and congressional elections in the US, and US$1 billion from the European football tournament Euro 2008.