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How Low Will Online Ads Go? Lower, Says J.P. Morgan. Very, Very Low, Says Gawker’s Nick Denton

in Media on November 3, 2008 at 7:56 am PT

A year ago, the conventional wisdom said that the online ad market would still grow in an economic slump because online ads were cheaper, and more effective. And they are. But if the slump is big enough–like the one we’re in now–then all bets are off. Which is why there’s no longer any conventional wisdom about the future of online ads. J.P. Morgan analyst Imran Khan, for instance, thinks growth will slow next year, and has just reduced his estimates. But Gawker publisher Nick Denton thinks we’ll be lucky if there’s any growth, period.