New York—U.S. advertising will grow from $156 billion in 2003 to $206 billion by 2008, increasing at a 5.8% compound annual rate, according to PricewaterhouseCoopersâ âGlobal Entertainment and Media Outlook: 2004-2008.â
According to the report, the fastest-growing media segment over the next five years will be the Internet, averaging 9.5% compound growth annually from 2004 to 2008.
After two consecutive years of double-digit declines, Internet advertising jumped 20.5% between 2002 and 2003, and is expected to reach $8.3 billion this, according to the report.
PricewaterhouseCoopers projects a 7.6% increase in U.S. advertising spending this year, buoyed by a full year of economic expansion, the Olympics and political advertising.