Forecaster Veronis Suhler Stevenson has revised its initial prediction for traditional media advertising spending, now predicting a decrease, as the global recession continues, Advertising Age reported Monday. The company now lists a predicted 0.4 percent decrease in ad spending after anticipating a 4.9 percent growth for 2009 in its August 2008 forecast.

This figure is the industry's lowest and second only decline since the firm began data collection 30 years ago.

The private equity firm predicts the hardest hit sectors will be those "traditional media segments that have seen an increase in competitive alternatives which offer stronger proof-of-performance." Traditional channels have seen advertising revenue fall in the online age, and now the stagnant economy has acted as a catalyst for this change, Veronis executive Jim Rutherford told Ad Age.

The forecast sees the newspaper industry as the hardest hit, with an expected 16.2 percent reduction of ad revenue in 2009. Television advertising is listed at a 9 percent reduction, consumer magazines an 8.5 percent fall and radio a 7.2 percent decrease. All are further declines on top of 2008 spending downturns, Ad Age reported.

While traditional sectors continue to show decline, online and mobile segments dominate the spending budget. Internet and mobile advertising investment is expected to grow 9.1 percent in 2009 and mobile content is set to see 34.2 percent growth. Advertising on professional and business information is expected to become the largest sector with an increase of 5.1 percent.