According to research done by the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC), total online advertising revenues in Q1 2009 fell to $5.48 billion, down 10% from the previous quarter and down 5% from Q1 2008.
This is the first negative year-over-year rate since 2002.
David Silverman of PwC said, “Current economic conditions are clearly challenging.”
Online advertising had been relatively unaffected by the downturn, partly because it used to be considered experimental, but it is now an essential part of the media mix for many advertisers.
“In some ways the decline further reinforces how online ad spending is a central part of the mainstream,” said David Hallerman, eMarketer senior analyst. “As other media are experiencing even greater ad spending declines, the Internet cannot resist larger economic forces.”
source: emarketer.com
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