The New York Times is reporting that the downturn in the ecomony has had a significant impact on online advertising in 2008,  boosting online media revenues to $234 billion, up 10.6 percent from 2007. Data from the Internet Advertising Revenue Report also shows that all non-Internet media spending including radio,  fell 2.4 percent from 2007 to 2008. Radio revenues now lag behind online by 3.9 billion. The medium is fighting back however. By targeting online ad growth, off-air ad dollars now account for 9 percent of last years radio revenue.

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