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Advertiser spending on the Internet more than doubled, from $1.9 billion to $4.6 billion in 1999 and is expected to reach $24.4 billion in 2004. That growth will represent a quarter of total advertising growth forecast for all segments, on a par with radio.

MEDIA ON THE MOVE

Forecast Predicts Communications Industry Will Be Fastest-Growing U.S. Industry Through 2004
Hey, let's start a news content site on the Web.

The communications industry was the fastest-growing sector of the U.S. economy over the last five years and will maintain that lead through 2004, according to the 14th annual Communications Industry Forecast (CIF) released by media industry merchant bank Veronis Sulher.

Among the findings:

•Consumer media use spiked upward 3.8% to 3,399 hours per person in 1999 and is expected to reach 3,786—well over 10 hours per person per day—by 2004. By 2010, people will spend more time with media than they have waking hours.

•Advertiser spending on the Internet more than doubled, from $1.9 billion to $4.6 billion in 1999 and is expected to reach $24.4 billion in 2004. That growth will represent a quarter of total advertising growth forecast for all segments, propelling Web ad spending ahead of cable & satellite TV ($21 billion), network TV ($19.4 billion) and consumer magazines ($16.4 billion) and on a par with radio ($26.6 billion).

•The number of U.S. online households soared 42% to 40.5 million in 1999, while spending on access rose 52% to $9.4 billion. By 2004, 67.1 million households will be online, while spending will rise 9.2% to $14.6 billion.

•Business-to-business spending on industry trade media and trade shows—rose 7.5% to $23.1 billion in 1999, with spending on trade magazines rising 7.1% to $14.6 billion in 1999. By 2004, B2B media expenditures are expected to grow 5.7% to $19.3 billion. Advertising should rise 6.4% to $17.1 billion by 2004.

Hey, anybody got six bucks for a copy of Billboard?

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