Private equity firm Veronis Suhler Stevenson forecasts that spending on Internet advertising will reach almost $62 billion in 2011, becoming the U.S.’s leading ad medium.
Veronis Suhler Stevenson’s ‘21st Communications Industry Forecast’ was released this week and the forecasts project that U.S. online advertising will grow by more than 21 percent per year, reaching $61.98 billion in 2011. This will see U.S. online advertising overtake U.S. newspaper advertising, which falls slightly behind with $60 billion, in 2011. The shift in advertising spend isn’t limited to the U.S. Online advertising spending is expected to overtake newspaper advertising this year in both Sweden and the U.K.
"We are in the midst of a major shift in the media landscape that is being fueled by changes in technology, end-user behaviors and the response by brand marketers and communications companies," said James Rutherford, executive vice president and managing director at VSS.
Television, cable and satellite will continue to command the biggest share of U.S. advertising budgets and are forecast to reach $86 billion in 2011, according to the forecast.
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