pqmedia has a new report out entitled "Alternative Advertising and Marketing Outlook 2006". You can download an executive summary. It shows quite clearly that the biggest advertising growth areas right now are online advertising and mobile and interactive marketing. Word-of-mouth marketing is also experiencing large growth.
The AMN found that brand marketers are accelerating the shift of advertising and marketing dollars away from conventional media to newer media that are using digital technology to reach youth and influential demographics. In many cases these alternative media tactics are doing a better job of reaching target demographics, delivering stronger ROI metrics, or are more engaging to consumers.