Kind of on the heels of Scott’s latest post, it seems that many of the top U.S. advertisers are taking his advice – and that many television, radio, and newspapers may be in for even more trouble. Thanks to TechCrunch:
The top 100 advertisers in the U.S., who represent 41 percent of total advertising spending, shifted about $1 billion last year from TV and newspapers to the Web. An analysis from Ad Age shows that overall media spending in “measured” categories (TV, print, radio, Web) by the top 100 advertisers was flat in 2007, with 0.3 percent growth to $61.3 billion. But spending on Web display ads rose 33 percent to $4.2 billion.
Take a look at this great chart:
This signifies two big things.
1) Things Are Changing
First, things are clearly changing. A shift this big is monumental and is surely hurting those publishers that relied on these “top 100 advertisers.” Questions to ask yourself include, “why?” and by why I mean, “Why would the top advertisers shift so much of their advertising dollars to the web?” When dealing with these amounts it was probably a very calculated and measured move. And every small business should take note – the world is moving to the web.
2) There is Plenty of Opportunity
Second, the shift is big compared to previous years’ spend on Internet advertising, but still miniscule compared to the entire amount. What does this mean? It means there is plenty of time and plenty of opportunity. I am sure this revolution will swing like a pendulum. Conventional advertising still has its place and I wouldn’t be surprised if prices were slashed in the next decade and I am sure some early Internet converts will switch back.