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Study shows Internet boosts traditional media

Published on .

New York--The Internet is not cannibalizing traditional media, but is, in fact, helping to maintain its growth, according to the 13th annual Communications Industry Forecast released by media investment bank Veronis, Suhler & Associates. The wide-ranging study predicted that U.S. spending on business-to-business communications would grow between 1998 and 2003, although not as much as between 1993 and 1998. And although the study predicted that b-to-b communications spending will reach $26.4 billion in 2003, it also projected that the compound annual growth for b-to-b communications spending will slow to 6.2% between 1998 and 2003, compared with growth of 8.8% between 1993 and 1998. Spending in business magazines is projected to reach $15.1 billion by 2003, but the compound annual growth rate will slow to 5.3% between 1998 and 2003, compared with 7.1% between 1993 and 1998. Similarly, trade show spending is expected to reach $11.3 billion in 2003, but the compound annual growth rate will slow to 7.6% between 1998 and 2003, compared with 11.7% between 1993 and 1998. The study blamed the slowing of growth in part on the migration of computer advertising dollars away from trade publications to television.
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