Still think the online ad market is going to grow 10% this year?
Market research firm IDC says ad spending could fall 5% year-over-year this quarter, the first contraction since the last bubble burst.
A year ago, the market was growing at 18%, according to the Internet Advertising Bureau. Last quarter, it grew just 0.4%, according to IDC.
WSJ: IDC analyst Karsten Weide also said the U.S. Internet ad market could get worse in the second quarter before the situation improves in the second half of the year.
Mr. Weide said his latest estimates suggest the low double-digit growth rates that most industry forecasts assume for 2009 may be too optimistic. IDC itself had previously forecast a 10% growth in online ads for 2009.
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