EMarketer lowers projection for online ad spending

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New York—Research firm eMarketer revised its forecast for online ad spending to 4.5% growth this year, down from an earlier projection of 8.9% growth.

The revision comes on the heels of the Interactive Advertising Bureau’s report this week that online ad spending grew by 10.6% in 2008, the slowest growth rate since 2002.

According to eMarketer’s projection, online ad spending will total $24.5 billion this year and $26.8 billion next year, a 9.4% increase.

However, the news is not all bad, eMarketer said in its report.

“Now that we’ve entered into the depths of the current recession, the Internet is emerging as one of the only bright spots in an otherwise decimated media landscape,” said Geoff Ramsey, CEO of eMarketer.

“It is true that the growth rate for interactive has slowed over the past 12 months, but marketers are continuing to migrate a greater percentage of their precious ad dollars toward the digital channel.”

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