Advertiser Perceptions, a survey of more than 2,000 US advertiser and agency executives conducted online in October/November 2007, found that newspapers are expected to be hit hardest by reduced advertising spend.

Some 37% of respondents said they expected to spend proportionally less on national and local newspaper advertising in 2008. Only 10% anticipated an increase in national newspaper advertising and 14% on local print advertising, with the rest expecting it to remain steady.

The future looks marginally brighter for the magazine sector, with 24% expecting a decrease, another 24% an increase and 52% predicting no change.

In outdoor, 22% expect an increase, 22% a decrease and 56% no change.

Meanwhile, 76% of respondents expect to increase their online advertising, while 55% expect to shift budget into mobile.