Citing the battered advertising budgets of automakers and retailers, research firm eMarketer revised its Internet ad spending projections to $23.6 billion this year, down slightly from its $24.9 billion estimate issued in August.
Despite the small decline, online ad spending will still grow 11% from last year, eMarketer said.
Categories suffering include display advertising, which has been hit hard by slashed budgets from automakers and retailers.
Paid search is still growing more than the overall Internet ad market, at 21% growth this year and 15% next year, eMarketer said.