Advertising expenditure is often one of the first casualties in an economic downturm and if you listen to the comments coming from the magazine and newspaper sectors, this time it doesn't look like it will be any different.
However there is a major difference.
Unlike the recessions in the 70's, 80's and early 90's, there wasn't a booming internet sector.
All the predictions today are that advertising on the internet will continue to grow as we sink into recession. The World Advertising Research Centre (WARC) has just released a report that suggests that online advertising will grow by 17% in 2009 and a further 12% in 2010.
The reasons?
Online advertising can be measured, tweaked and tightly targeted. In recession every dollar counts.
In this graph you can see how quickly online advertising is growing compared to the rest of the advertising market. (Online advertising is the top blue stripey section)
- The winners are: Internet, television and outdoor
- The losers are: print, direct mail and radio
Conclusion
If you are a print publisher it's time to move online.
If you are considering starting a print publication, think again. The money is on the web.
If you are an entrepreneur looking for an opportunity to make money during a recession, give careful consideration to specialist online publishing. It's growing at a time when many businesses are failing.