Internet ads to generate $18.9 bln in 2008

Spending in the global entertainment and media (E&M) industry will hit $1.7 trillion in 2008, with swift gains in Internet advertising, according to a study released Tuesday. Strength in the Asia/Pacific entertainment and media market will drive a global 6.3% compound annual growth rate (CAGR), compared to 4.2% in 2003, the study predicted. Internet advertising will grow to a projected $18.9 billion in 2008 with a 12.7% CAGR, according to PricewaterhouseCoopers.