Forrester Research predicts the European market for search, email and display advertising will more than double to €16 Billion by 2012, topped by growth in the UK. This will represent 18% of all Euro ad-spend, says the firm’s analyst Rebecca Jennings.
European internet users now spend 14.3 hours a week online, compared with 11.3 hours watching TV and 4.4 hours reading newspapers or magazines.
GroupM, the market intelligence division of advertising agency WPP, also released its latest forecast, predicting a recovery in linear TV advertising during the remainder of 2007, but slightly slower growth in online ad revenues, + 34% in 2007, vs. + 48% in 2006. Bad news for the UK terrestrial broadcasters though, GroupM reckons that the majority (54%) of lucrative 16-34s will gravitate towards multichannel.
Branded or advertiser-funded programming is seen as growing by 15% this year, 17% next.