Car Industry Crash Killing TV, Print Ads, But Merely Denting Online

For all the talk of advertising dollars migrating online, the automakers haven’t yet done it en masse. Normally that would be a disappointment. But this year, it’s probably a good thing for Web publishers.

As the NYT points out, automotive advertising cutbacks are killing old media; TV and print specifically. Spending among domestic automakers in Q1 was off 16%; total automotive spending is expected to be $15 billion in 2008, compared to $24 billion in 2004.

But as bad as it is for TV and print, the slowdown won’t hurt the Web that badly. That’s because automakers only account for 7.7% of online ad spending in the US. And that share is still growing even as the overall pie shrinks. Sanford Bernstein estimates that the automakers’ online spending was up 3.8% in Q2

See Also:
Look Out Below: GM Cutting Ad Spending
Viacom: Ad Market So Bad We’re Not Making Predictions Anymore
CBS: It’s Not An Ad Slowdown Anymore – It’s An Ad Recession
Advertising Forecasters’ Crystal Ball Officially Broken

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