• Media Life , Thursday, December 21, 2006 11:01 AM

Advertising forecasts for 2007 are mixed, but just about the only constant is that Internet advertising will continue to grow apace, outperforming other media and likely, surpassing expectations.

In 2006, Web spending was forecast at 20%; with three quarters now behind us, that number is closer to 50%, according to Nielsen Monitor-Plus.

Even so, most research firms think Web advertising will grow somewhere between 15% and 20% next year. However, history tells us that number is most likely conservative.

Since the bubble burst in the early 2000s, forecasters and some investors have erred on the side of caution. Another factor is that forecasters prognosticate based on yesterday's numbers, projecting growth based on those sectors that performed best the year before.

Media consumption patterns change, sometimes drastically. At this time last year, user-generated video was little more than a curiosity. This year, the phenomenon has made each and every one of us Time's "Person of the Year."

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