TAILIEUCHUNG - Nothing But Net 2009 Internet Investment Guide 12

Nothing But Net 2009 Internet Investment Guide 12. Leading . Morgan Internet industry analyst Imran Khan provides a comprehensive look at key Internet industry characteristics, drivers, and trends in his seminal industry outlook, Nothing But Net. Geared toward Internet investing novices and experienced professionals, this book provides a detailed look at data points and trends that should be considered when investing in the Internet space. With almost 8 years of technology banking and investing experience, Khan provides a detailed analysis of multiple Internet sectors including online advertising, e-commerce, online travel, and social networking. This book is a must have for. | Morgan Imran Khan 1-212 622-6693 Global Equity Research 05 January 2009 Source CNNIC 2007 Pew Internet Study Aug 06 NDIA Survey on Computer and Internet Use Dec 06 Source CNNIC 2007 Pew Internet Study Aug 06 NDIA Survey on Computer and Internet Use Dec 06 111 Morgan Imran Khan 1-212 622-6693 Global Equity Research 05 January 2009 Online Advertising We Maintain Our Positive View on 2009 and Longer-Term Online Ad Market Growth While there are debates over how China s economy will shape up over the next 2-3 years we believe strongly that Internet usage will continue to grow despite more challenging economic conditions. Lower computer prices declining connection fees higher influence of online media and government support should continue to drive Internet growth in China. Further whether China s 2009 GDP growth rate turns out to be over 9 or a lower 5-6 in a hard landing scenario GDP growth should add further upside to a base case of 18 online brand media growth in our view. Indeed with better measurements and lower price online ads will likely be a preferred medium in difficult times. Also the online ad market still only accounts for a very small portion of China s overall ad market still less than 10 . We forecast the online ad market to witness 28 Y Y growth in 2009 to reach US and 37 Y Y growth in 2010 to reach US . Search Ad to Grow Faster than Brand Ad We expect search advertising to see stronger growth in 2009 than brand advertising. From a top-down perspective search ad is still 40 of the total online ad market in China. This compares with 67 in the US. As such we still see room to grow. From a bottom-up perspective we expect 1 higher adoption of pay-for-performance advertising during challenging macro environment 2 search usage to increase with the growing eCommerce market and 3 use of search ads as a brand advertising tool. Table 54 China Online Advertising Market Forecast

• Internet Marketing
• Imran Khan
• Ngành công nghiệp internet
• quảng cáo trực tuyến
• thương mại điện tử
• online advertising
• e commerce
• online travel
• social networking