The amount of money spent in the US online advertising market will double, to $50.3 billion in revenue, by 2011, according to research from the Yankee Group.

The internet accounts for approximately 20% of overall media consumption in the US, but advertisers currently invest only 7.5% of their budget online. There is tremendous potential for marketplace growth as advertisers bridge this gap. By 2011, nearly 25% of all media consumption will be online, drawing 15% of the advertising dollars.

Online advertising will grow rapidly in the coming year. The factors driving this continued growth are:

• Increased online audiences
• The development of new types of advertising
• The creation of new publisher business models that help sell interactive advertising

“With internet connectivity nearly ubiquitous, online advertising growth is inevitable,” said report author Daniel Taylor, senior analyst at Yankee Group. “And yet the internet is still a relatively new digital medium. Steady growth in online advertising will require publishers to invest extensively in new media and advertising product development.”