…For first time, however, spending on digital expected to outpace print.
It looks like all media types (especially print and digital) might be seeking (and finding) their own level RE advertising profits. I have mentioned in previous posts that when the newness of digital gadgets (Kindle, iPad, plus more to come) wears off a little and the dust settles…that print will still be standing, albeit not dominating.
One of my favorite go-to industry sources, FOLIO magazine’s reporter Jason Fell, reported this today:
Consumer and trade businesses this year are projected to spend approximately $119.6 billion on online and digital advertising strategies while shelling out $111.5 billion to print projects, research and advisory firm Outsell said Monday. Some good news for print: Ad spending on magazines is forecasted to be up 1.9 percent to $9.4 billion.
According to Outsell’s “Marketing and Ad Spending Study 2010: Total U.S. and B2B Advertising” report, overall spending on marketing and advertising will be $368 billion this year, an increase of 1.2 percent over 2009. Taking an overarching look at b-to-b and b-to-c businesses, the report projects spending, share and growth for five media types—online, events, print, TV/radio and PR/other.
Other findings from the report included that b-to-b advertisers see cross-media marketing as the most effective option with 78 percent combining three or more marketing methods; advertiser’s own Web sites generate the highest ROI for b-to-b; and social media has a firm place in marketing efforts—51 percent said Facebook is “extremely or somewhat” effective, 45 percent for LinkedIn, 35 percent for Twitter and 25 percent said the same for MySpace.
For the 2010 report, Outsell said it surveyed more than 1,000 U.S. advertisers in December 2009.