If the latest CMO Council study translates into dollars, 2009 will be about five percent better for internet advertising than 2008. Last week was filled with analysts making downward adjustments to this year’s internet ad spend outlook, but the more forward-looking CMO study is more optimistic. Consistent, but optimistic.
Specifically, the 650 CMOs surveyed said unanimously that they plan to cut or hold steady on traditional ad spend in TV, print, and radio. 43 percent of them plan to increase spending on interactive and web media by up to five percent this year, and 30 percent will increase internet budgets more than five percent. Last week Bernstein Research put internet ad growth at 5.9 percent after predicting more than 16 percent just five months ago.