Alternative Media Spending to Grow More Than 20%: Study
Spending on alternative media jumped 22% to $73.43 billion in 2007 and is expected to continue rising this year despite a slowing economy, according to PQ Media.
Alternative media spending grew at a compound annual rate of 21.7% from 2002 to 2007, as brand marketers increasingly turned to alternative advertising and marketing strategies to offset challenges posed by new technology, changing consumer behaviors, media fragmentation and multitasking, and growing demand for improved return-on-investment metrics, according to the study, “PQ Media Alternative Media Forecast: 2008-2012”
Total spending on alternative media is forecast to grow 20.2% to $88.24 billion in 2008 and post compound annual growth of 17% in the 2007-2012 period, reaching $160.82 billion, according to the PQ.
Alternative media, including 18 digital and non-traditional media segments, accounted for 16.1% of total advertising and marketing spending in 2007, up from only 7.9% in 2002, the study noted.
In addition, alternative media is forecast to represent 26.6% of total U.S. advertising and marketing spending in 2012, according to PQ
