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NEW YORK - Internet industry executives said on Tuesday they expect online advertising spending to bounce back next year after a forecast 11 percent drop in 2001, only if companies work hard to win ads, Reuters reports.
At the Ad Tech conference in New York, it was estimated that online ad spending in the United States will fall about 11 percent to $7.3 billion this year but will bounce back to around $8.1 billion next year. In comparison, online ad spending reached $8.2 billion in 2000.
Internet companies have to be proactive in selling advertising and should go after cooperative relationships with advertisers, said Greg Coleman, executive vice president of North American operations for Internet media giant Yahoo Inc. In addition, they should take a broader view of their businesses and consider market research and database marketing opportunities in addition to advertising.