New York—One month after lowering its global ad forecast for the year, Merrill Lynch raised its online ad forecast for the fourth quarter and for the full year.
Merrill Lynch now projects fourth-quarter online ad revenue will increase 30.0% over the fourth quarter of last year, up from a previous estimate of 27.0%.
For the year, Merrill Lynch predicts online ad revenue will grow 23.3% over 2005, up from a previous estimate of 22.5%.
Last month, Merrill Lynch lowered its global ad spending forecast to 4.3% growth, down from an earlier projection of 4.9% growth. However, in that report, Merrill Lynch said online advertising was the one bright spot among ad categories.