Hooray! We’re not in the middle of an ad-pocalypse. Some people thought we would be.
Just about a year ago, Gawker Media owner Nick Denton predicted the entire online advertising industry was headed for an unprecedented disaster in 2009.
He wrote, “From conglomerates to internet ventures, executives should be planning now on a decline of up to 40% in advertising spending during this cycle.”
The good news: Nick was way, way off!
The bad news: Internet advertising did in fact shrink during the first half of 2009 — by about 5.3%.
That stat is according to an Interactive Advertising Bureau report released today. Some other numbers about 2009’s first half from the report:
- Search advertising actually grew.
- Display-related advertising totaled nearly $3.8 billion, showing 1.1% decline.
- Digital video grew 38%.
Here’s a chart Nick made last year to illustrate what he thought would happen in 2009 (and what he thought publishers should do about it).