A report from financial services company Harris Nesbitt says that, while internet advertising continues to grow at 32 percent in 2005, online adspend remains too small - less than four percent of total - to drive overall ad spending, Mediaweek writes (via MediaBuyerPlanner). The report lowered its projected percentage increase in U.S. ad spending for 2005 from 5.4 percent to 4.4 percent, totaling $276 billion.

The company says the revised forecast was based on what it sees as weaker than expected radio advertising and reduced automotive advertising at network and TV station levels.