20 Apr 10 Future Looks Promising for Advertising Industry

According to an estimation done by Magna, advertising expenditure in the United States is expected to grow by 3.5% through 2015. This year, the US advertising industry is expected to touch $164.5 billion mark — it includes Olympics and election spending as well.

The sectors that will witness maximum growth are: Internet, local, and national television. In the estimation done by the company

• Internet will grow by 12.8% fueled by search that will grow by 16.8%.
• Advertising expenditure on local television is expected to grow by 16.2%, and
• Advertising budget for television as a whole will grow by 10.2%.

The picture may look rosy for the industry, but not everyone is going to benefit from this. As the prediction goes, the print media will continue its freefall despite the growth. As estimated

• Advertising budget for the newspaper will slip by another 11%.
• Local paper will slide down by 10%, and
• Magazine will witness another 6.9% decline.

Could it be an indication of text’s losing battle against the visual and auditory appeal of videos? As on the Internet as well, it is the video that is the new black. Seeing the growing consumption of multimedia content, written words run the risk of going down in the dark alleys of oblivion.

Why Video is gaining, and text is losing ground?

The nature of both the media could be at the center of this shift. To understand the difference we need to understand both the mediums.

Print: Print (and reading in general) is an active medium that requires exclusive attention from the audience. This is time consuming.

Multimedia: On the other hand, multimedia content (audio and video) does not require exclusive attention. It can be consumed while doing other works. And given the multi-tasking nature of the twenty-first century man and woman, this appears to be time saving — and we all appears to overlook the diminished understanding of the subject caused by our multi-tasking addiction. That is the reason behind meteoric rise of multimedia content consumption.

Tags: Addiction, Advertising Budget, Advertising Expenditure, Century Man, Company Internet, Consumption, Dark Alleys, Decline, Estimation, Freefall, Losing Battle, Losing Ground, Magna, Man And Woman, Maximum Growth, Mediums, National Television, Oblivion, Olympics, Twenty First Century