Media News - Monday, May 19, 2008

Online publishers upbeat despite economic downturn

Online publishers are doing well despite an economic downturn, and the ones who are best positioned to succeed are strong brands with quality content, the head of the Online Publishers Association said on Friday. Web sites have an edge over traditional media by offering advertisers the ability to target consumers in a cost-efficient and highly focused way, the association's president, Pam Horan, told Reuters during the OPA's ‘Forum for the Future’ in London. The expected growth rate for online advertising spending in the U.S. this year is a still robust 23 percent, down from 25 percent last year, according to data from eMarketer. While both global media brands and local online publishers should be able to weather the storm, the ones with the strongest brands and quality content are likely to be most successful in attracting advertisers, Horan said. In an ever-expanding global economy, foreign readers are becoming increasingly important for publishers, Horan said. Advertising categories such as travel and financial news are particularly well placed to make money from foreign visitors. The continuous evolution of digital publishing platforms is another reason why the prospects for online advertising revenue are brighter than for traditional media. The mobile Web, video and social media are seen as key growth areas for advertising revenue. (Reuters)

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