Industry NewsTechnology

Online ad spending forecast to hit $51.9B

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Businesses may boost spending on all forms of advertising by just 5 percent next year, but online advertising is expected to post double-digit growth, thanks to a surge in local and targeted advertising, analytics and consulting firm Borrell Associates projects.Borrell forecasts that outlays for local online ads will grow by nearly 18 percent next year, to $16.1 billion, and that spending on targeted display ads will grow by nearly 60 percent, to $10.9 billion."The fastest-growing segments of online advertising are the local sector, anything targeted, and everything involving social media," the company said in releasing its 2011 online advertising forecast.Growth like that could help push total spending on online advertising up 14 percent in 2011, to $51.9 billion. But that would still represent only about 22 percent of overall spending on advertising, marketing and promotions.With one in four cell phones now a Web-enabled smart phone, mobile ad sales are expected to snag 20 ...