For the first time ever, U.S. companies will spend more on digital and online advertising than on print, according to a study by the California-based company Outsell, which characterizes this as a “milestone event.”
The study says companies will spend $119.6 billion on digital and online advertising in 2010 compared to $111.5 billion on newspaper, magazine and other print campaigns. Newspaper ad spending is estimated to drop 8.2% to $27 billion, while magazine advertising will rise 1.9% to $9.4 billion.
Companies will spend $63 billion, which is 58.2% of their total online budget, for ads on their own websites.
The Outsell study also predicts that advertising spending overall will rise 1.2% in 2010 to $368 billion. Spending on TV advertising is expected to drop 6.5% to $59.6 billion.
Outsell surveyed more than 1,000 advertisers nationwide for its annual study.