2008 will be a difficult year for TV advertising, with spend growing at a lower rate than the economy: that is, just 1.9% in Europe and 1.5% in the US, according to ScreenDigest. Advertising revenues will grow below average GDP growth between 2008-2012, with annual growth rates of 3.6% in Europe and 3.7% in the US. The growth rate in 2011-2012 will be higher – at 5% in Europe and 6% in the US – as the economy picks up after 2008/2009. Most of that growth will come from online advertising, which is expected to grow on average 17% every year until 2012.