By: Ann M. Mack
(Adweek IQ) The Internet recorded the largest year-over-year ad spending gain in 2003 of all media, posting a 15.7% rise to $6.5 billion, according to TNS Media Intelligence/CMR.
That figure surpasses TNS Media Intelligence/CMR’s mid-year 2003 estimate of 7.4% growth in online ad expenditures. The Web’s better-than-expected performance was attributed to increased advertiser confidence due to expanding broadband penetration, more appealing ad formats and improved efficacy, among other key factors.
TNS Media Intelligence/CMR, a New York-based company that tracks ad spending in major media, found that overall ad expenditures in 2003 rose 6.1% to $128.3 billion.
In addition to the Internet, other media that reported double-digit gains for 2003 included: cable TV (15.6%), national syndication (15.3%), local newspapers (13.4%) and Spanish-language TV (12.8%). The lone medium to record a decline last year was spot TV, where ad spending fell 5.4% from $17.2 billion to $16.2 billion.