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NEW YORK Web ad spending should grow 28 percent in 2005 to reach $12.3 billion, according to estimates by Goldman Sachs.
The investment bank said the presence of broadband Internet connections in about half of U.S. households has grabbed the attention of major advertisers, who can now use the Internet for video and other creative placements. Goldman expects this will siphon ad spending from other media.
In its report, Goldman Sachs said it believes online ad spending in the second quarter increased from the first quarter, putting online on course to near the 32 percent growth it experienced in 2003.
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