The Economist reports that London based ZenithOptiMedia is predicting internet ads, at a forecast 8% of all global advertising, will surpass the bucks now spent on radio in 2008. And by 2012, another research firm is estimating nearly 18% of European advertising will be online. This in the context of a domestic recession many think inevitable.

Where is print in this outlook? Weeeeeelll…newspaper profits are predicted to improve as a result of subscription increases and more ad revenue, even as many (see Herald, Miami) continue to cut circ and staff. Often refered to as eating the seed corn.

Big news, though, is the consensus that nearly 90% of marketing departments will or have already launched “social content” campaigns, and that by ’09 marketers will be targeting 25% of their budget for social media. What’s it all mean? At this point it seems that for all but a handful at the very top, online media’s a must-have of don’t have a clue how to.