MAM
US online ad market to be worth $26 billion in 2010
MUMBAI: Online marketing and advertising in America will rival cable and satellite TV and radio ad spend in five years time. It will reach $26 billion by 2010.
This data is contained in a study done by Forrester Research. This year alone will post a 23 per cent increase on last year’s figures, the report says, to $14.7 billion. The report titled US Online Marketing Forecast: 2005 To 2010 further indicates that almost half of marketers plan to decrease spending in traditional advertising channels like magazines, direct mail, and newspapers to fund an increase in online ad spending in 2005. By 2010, online marketing and advertising will represent eight per cent of total ad spend.
The report notes that despite significant changes in consumer behaviour, there is a large disparity between the amount of time consumers are spending online and the money marketers are spending trying to reach them online. When at-work Internet use is taken into consideration, online consumers spend more than one-third of their time online–roughly the same amount of time they spend watching TV. Yet marketers spend only four per cent of ad budgets online versus 25 per cent on TV.
Other key findings by Forrester Research include the fact that search engine marketing will grow by 33 per cent in 2005, to reach $11.6 billion by 2010. Display advertising, which includes traditional banners and sponsorships, will grow at the average rate of 11 per cent over the next five years to $8 billion by 2010.
Brands
Axis Bank named Official Banking Partner of DP World PGTI
Partnership supports all tournaments this season to grow professional golf in India.
MUMBAI: Axis Bank just teed up a hole-in-one partnership because when a bank sponsors golf’s biggest swing in India, even the fairways feel more financially secure. Axis Bank has been appointed Official Banking Partner of the DP World Professional Golf Tour of India (DP World PGTI), strengthening its commitment to sporting excellence and community engagement while backing the growth of professional golf across the country.
Under the partnership, Axis Bank will support all DP World PGTI tournaments this season, contributing to talent development, enhanced tournament experiences and wider fan engagement. The collaboration aligns the bank’s values of precision, discipline and trust with the Tour’s focus on performance and opportunity.
Axis Bank executive director Munish Sharda said, “We are pleased to partner with DP World PGTI as its Official Banking Partner. Golf embodies precision, discipline, and a pursuit of excellence qualities that strongly reflect who we are at Axis Bank. This association also strengthens our engagement with India’s growing premium customer segments, where the sport has a deep and enduring connect.”
Professional Golf Tour of India president Kapil Dev said, “We are extremely pleased to welcome Axis Bank as a Tour Partner of the DP World Professional Golf Tour of India. Partnerships of this stature play a vital role in strengthening the foundation of the Tour, enhancing opportunities for our players, and expanding the sport’s reach across the country.”
Professional Golf Tour of India CEO Amandeep Johl added, “Axis Bank’s strong legacy of excellence, innovation, and nationwide reach aligns perfectly with DP World PGTI’s goal to elevate professional golf in India and provide greater opportunities for our players.”
In a sport where every stroke counts and every partnership drives distance, Axis Bank isn’t just backing golfers, it’s investing in the fairway to future, turning India’s greens into a stage where precision meets passion and every drive has the power to inspire.
