Digital media is still thriving in 2009 in spite of the economic gloom and doom.
Industry bellwether eMarketer predicted that web spending on digital products will increase up to nine percent to $25.7 billion during 2009. (That said, this estimate is actually down from an August 2007 prediction of 15 percent growth.)
Digital media’s winning formula
Despite the situation, many media companies remain calm. They continue to build on their strengths and focus on what works.
“The truth is now that we are a $20 billion business, it’s large enough to cut back,” said Peter Nayler, senior vice president of digital media sales at NBC Universal. “Our strengths continue to be our strengths. These strengths are tractability and efficiency. Also, users are spending more time with digital media.”
The bottom line is that brands are less likely to walk away from marketing and advertising in response to a recession, as they may have done in 2001. Some, in fact, will wind up spending even more money. While media buyers should not expect spending windfalls in 2009 like those of past years, this is sure to a year in which making smarter purchasing choices and focusing on ROI will really count.