Predictions from research firm PQ Media suggest marketing spend on new media will hit $160.8 billion by 2012, reports USA Today.
The figure represents an increase of 82 percent over 2008's predicted spend.
"New media" encompasses a number of platforms, including online, mobile and out-of-home. A mix of media is necessary, PQ says, because Americans are less and less tied to traditional outlets — the result of changing work and social habits.
PQ predicts search will grow by 113 percent, sponsorships by 72 percent, online direct marketing by 121 percent and rich media format by a whopping 389 percent, come 2012.
A rise to over $160 billion means that "new media" — hardly "new" by 2012 — would account for 27 percent of all marketing spend, up from the current 16 percent.
The firm cautions that the development of industry standards may impact predicted growth.
