Total US TV and online advertising revenues dropped 12 per cent in 2009, although online revenues grew, according to research from The Yankee Group. In 2009, the total US TV and online advertising market totalled $67 billion, compared to $77 billion in 2008, according to the research. TV advertising, by far the largest portion of this combined market, was hit especially hard by reductions in spending during 2009.
The TV ad market declined 21.2 per cent, from $52 billion to $41 billion, between 2008 and 2009. This was significantly more than the 4 per cent (or roughly $2.1 billion) decline The Yankee Group originally forecast in June 2009. A shift in consumer attention primarily drove the steep decline in the TV ad market.
Internet advertising grew during 2009, as a result of consumers spending more time online and less time watching TV. Online ad revenues grew 8.3 per cent between 2008, when they totalled $24 billion, and 2009, when they totalled $26 billion.