Consulting group forecasts 100 percent gain
NEW YORK — Internet advertisers will spend $2 billion in 1999, a staggering 100% gain over the $1 billion they ponied up this year.
That eye-opening figure was the most surprising result of the Myers Consulting Group’s seventh annual survey of marketing executives. Overall, the survey suggests that media spending would go up a healthy 9% for all categories in 1999 to a total of $63.854 billion.
Although no other medium will show anywhere near the increases online companies will generate, cable networks will come in second in annual growth, climbing from this year’s $6.159 billion to a projected $7.267 billion in 1999, an 18% gain.
Next up is broadcast TV syndication, which will push ahead by 10%, from $2.595 billion this year to $2.854 billion in 1999.
In the other six categories of measured national media, estimated increases are as follows:
- Consumer magazines, up 8% from $13.739 billion in 1998 to $14.838 billion in 1999.
- Spot TV, up 6% from $10.782 billion to $11.424 billion.
- Broadcast networks, up 6% from $14.84 billion to $15.73 billion.
- Outdoor, up 6% from $1.971 billion to $2.089 billion.
- Network radio, up 4% from $2.899 billion to $3.014 billion.
- National newspapers, up 3% from $4.985 billion to $5.134 billion.