Web advertising is hurting. Long live Web advertising!

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Marketers are hurting these days, as companies such as Ford and Coca-Cola slash their advertising budgets and try a little less hard to convince you that you need a new F-150 pickup, and moreover, that you should be drinking a Coke while you drive it.

Despite projections to the contrary, these cutbacks are hurting online advertisers too. A story in today’s paper discusses which segments of the Web are being hit the hardest and which ones marketers love, recession or not (Hint: not even marketers are loving those annoying display ads these days).

Fear not: Online advertising will reign eventually. Veronis Suler Stevenson is releasing its VSS Communications Industry Forecast 2008-2012 today, predicting that online advertising will become the largest U.S. ad medium in 2011, surpassing TV. This year, TV surpassed newspapers for the first time ever to become the largest ad medium in the country.