OUTDOOR advertising was the only ray of light in traditional media in 2008.

Full-year revenue figures due out today are expected to show the sector grew 3.2 per cent last year to $454 million.

That put the industry a bare $14 million ahead of 2007 after spending slowed in the December half, but it is likely to be the only mainstream medium to have recorded growth last year.

Audited revenue figures for free-to-air television released last week showed the sector declined almost $80 million (2 per cent) in 2008, pulled down by 5.3 per cent in capital city markets in the six months to December.

Official figures for magazines and newspapers are not expected to be known before April, when the Commercial Economic Advisory Service of Australia (CEASA) releases its estimates for spending across all industries, but they are not expected to improve on 2007.

Metropolitan radio sales were flat at $644 million.

Anthony Fitzgerald, chief executive of Foxtel sales arm MCN, predicted pay-TV would show growth of about 13 per cent, or $35 million, pushing it to about $312 million for the year.

The performance of online advertising, figures for which are due next week, will be crucial to the health of the total advertising sector.

Interactive Advertising Bureau chief executive Paul Fisher estimated it could grow by as much as $260 million, or 19 per cent, to $1.6 billion, although the impact of the global economic crisis in the last quarter of 2008 could slash those figures.

If internet advertising growth slows to half that rate in 2009, as predicted by an Aegis Media report this week, it could still grow by $160 million this year.

Fairfax Digital media head Pippa Leary predicted online display advertising would grow at 12 per cent this year.

"We're seeing more retail than ever before," Ms Leary said.

"Online video is the bright spot, with some clients increasing their spending by 60-100 per cent from a small base."

Mr Fisher said advertisers would draw additional online budgets from other media.

"The extra money is going to come out of existing marketing budgets," he said.

Newspaper display advertising had a strong January, according to News Limited sales director Tony Kendall. National advertising for the company (which owns The Australian) was showing "strong growth".

"Classifieds is well down, which is affecting the business," Mr Kendall said.

Free-to-air TV advertising bookings have fallen off a cliff in February, declining more than 10 per cent against the same period last year, according to a number of key industry players.

Mr Fitzgerald said, however, pay-TV was showing "double-digit growth" in January.

Forward bookings "into February do look a little softer and March is too early to call, but the quarter overall will be high single or low double-digit increases", he said.

Aegis Media predicts Australia will be one of just four Asia-Pacific markets to record even nominal growth this year, tipping the rise in internet spending will push total advertising up 1.7 per cent, although any real gains will be reversed by inflation.

It is forecasting the market will grow 12 per cent in Indonesia, 9.4 per cent in China and 4 per cent in India, with every other country in decline.

Aegis Australia-New Zealand chief executive Lee Stephens said the recession would drive consolidation, with only the market leaders in each medium likely to avoid advertising slumps.

"Figures of -5 per cent to -10 per cent" for traditional media were going to be a theme for the year, Mr Stephens said.

The market leaders in each medium "might come out flat", he said.

MediaCom chief executive Anne Parsons said bookings from her agency had not fallen by double digits but said the second quarter could slow more.