Media Magazine

by J. Walker Smith

Eulogizing old media is a favorite pastime for pundits nowadays. Not so fast. Sure, things may look bleak. Newspaper advertising seems to have hit its long-anticipated tipping point and is in record declines. The network upfronts held their own this year, but only because advertisers bought more spots to offset declining audiences, so networks sold more inventory. Magazine advertising is taking an extra hit this year because of the slow economy.

All of this as new-media advertising explodes. Online advertising is projected to double in five years, with growth eight times that of advertising in general. By 2012, Internet ad spending will be second only to direct marketing. Social networking sites and mobile devices are getting more and more attention as the new hot spots.

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