The online ad market is likely to grow by only single digits in 2009, eMarketer said Tuesday, drastically cutting estimates for the coming year that it made last August.
The revised projection data puts online ad spending at $25.7 billion in 2009 -- a mere 8.9% over the $23.6 billion that will be spent this year and down from the 14.9 percent estimate it made only three months ago. In 2010 eMarketer estimates growth will barely return to double-digits -- 10.9 percent -- and that it will not be until 2013 before it hits 13.5 percent.
In August, eMarketer projected that online ad spend would grow 14.9 percent next year. From the "life comes at you fast" department: earlier this month at ad:tech in New York eMarketer CEO Geoff Ramsey was reassuring colleagues that they were
"not the bulls eye."
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