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06.08.05
Web-Based Ad Spending Reaches $2.8 Billion
 By Chris Richardson
As online advertising continues it's rise as one of the preferred methods for delivering your message, the amount of money being spent on web-based advertising is increasing as well.
According to a joint study conducted by The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC), and reported by MarketingVOX, web-based advertising spending for the 1st quarter of 2005 reached $2.8 billion dollars, a 26 percent increase when compared to the 1st quarter of 2004.
This amount also indicates a 4.3 percent increase from last year's fourth quarter, which was measured at $2.69 billion.
The growth of broadband Internet connections were given the large majority of the credit for this adspend increase, as well as an increased online audience. Marketers can also spend less money when embracing web-based methods to attract their audience when compared to traditional advertising mediums.
The MarketingVOX article also indicates that expert forecasts predicted large amounts of growth in web ad spending for 2005, some as high as 34% when compared to 2004. If 2005's first quarter is any indication; expect online adspending to surpass 2004's $9.6 billion mark. If spending remains constant (which is highly doubtful), the 2005 online ad spending mark is on pace to reach $11.2 billion.
E.W. Scripps Purchases Shopzilla
By Chris Richardson
Growing media group E.W. Scripps is purchasing Shopzilla, one of the most popular comparison shopping engines on the Internet.
The transaction calls for E.W. Scripps to pay $525 million in cash for the rights to Shopzilla. In return, Scripps receives 100% control and ownership of the specialized search engine, making Shopzilla a standalone service. Scripps is expected to assume control during the third quarter of this year.
This move will continue the Scripps foray into developing a substantial web presence. Currently, the Scribbs stable of Internet holdings consists of the following sites: FoodNetwork.com, HGTV.com, DIYNetwork.com, fineliving.com, gactv.com and ShopatHomeTV.com. Scripps also holds the rights to United Media's Comics.com. The acquisition of Shopzilla will only increase their growing web presence.
"Shopzilla is a significant Internet play for Scripps," said Kenneth W. Lowe, president and chief executive officer for Scripps. "In many ways, like our other media businesses, Shopzilla is a content company. By organizing shopping information so that consumers can buy almost any product from a wide variety of merchants, the Shopzilla team has taken commerce and content and melded the two together to produce an extremely compelling value proposition to consumers and merchants alike. As more consumers become aware of this service, we're betting that Shopzilla will become the way that people shop online."
Shopzilla's current management team will continue to oversee operations after the purchase is complete. This includes president and CEO Chuck Davis as well as co-founders Farhad Mohit (chief product officer) and Henri Asseily (chief technology officer).
Mohit also offered his thoughts about the pending transaction, "Online shopping already is a $100 billion-plus industry in the U.S. alone, and it's still the early innings. With Scripps and its lifestyle brands, media assets and financial resources backing our team and vision for building the ultimate shopping service, we are assured of the chance to continue building Shopzilla into a site that consumers worldwide will choose every time they want to shop online."
Shopzilla's comparison shopping "index" contains over 30 million products from 55,000 retailers, worldwide.
About the Author:
Chris Richardson is a search engine writer for WebProNews. Visit WebProNews for the latest search news. |
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