Spending on Internet Advertising Slows

A report showed that U.S. online-ad spending grew 10.6% in 2008, its slowest rate since 2002.

The data suggest the recession is having a significant impact on one of the few drivers of robust growth in media and advertising.

The 2008 figure, $23.4 billion, compares with $21.2 billion in 2007, when online-ad revenue surged 26% from the year before. In the fourth quarter of 2008, growth from a year earlier slowed to a relative trickle, 2.6%, to $6.1 billion. In the same period in 2007, online-ad revenue had jumped 24%.

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