Figures from the US IAB/PwC study shows that online adspend rose 34% in 2006 to reach $16.8bn (£8.50bn) (from $12.5bn (£6.33bn) in 2005). Based on the IAB/PwC results eMarketer have release their latest market predictions, forecasting that online adspend will reach $36.5bn (£18.5bn) in 2011. eMarketer expect double digit growth to continue until at least 2011 for the following reasons:
- Audiences will continue to spend more time online and advertisers will need to keep up with them, shifting their spending away from other media.
- The greater targeting and tracking of online marketing will continue to make the medium more attractive.
- As new formats such as online video become more widely used large brand marketers will devote more of their budgets to online campaigns.