PriceWaterhouseCoopers (PwC) has put out a report saying that online advertising will become the second largest advertising medium in the US after television within the next 4 years, and will increase by over $10 billion in that same timeframe.
According to the Wall Street Journal, the report says that online advertising will increase from $24.2 billion in 2009 to $34.4 billion in 2014 to overtake newspapers which will continue to lose ad revenue over the next 4 years (big surprise right?) to fall from $24.82 billion in 2009 to $22.3 billion in 2014.
PwC says that interactive media, video and email will increase to $6.6 billion in 2014 from $4.7 billion in 2009, with mobile advertising going from only $414 million in 2009 to $1.6 billion in 2014. Honestly, we believe that both of these 2014 numbers actually seem on the low side, as we believe both markets are ready to simply explode, but the PwC is probably thinking that the cycles for advertisers are going to take longer to switch over to these mediums. But still, only $1.6 billion in mobile advertising in 2014? This especially seems low as not only are smartphones selling like hotcakes, but both Google and Apple now have fully-featured mobile advertising platforms, and both companies are very trusted, so spending should increase rapidly for both.
The full report should be available today from PwC.