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08 April 2008
Online adspend set to outstrip TV by 2009
Online advertising spend has reached a new record high of £2,812.6m. The figures - released yesterday by the Interactive Advertising Bureau* - reveal the sector has grown by £2 billion in just 3 years, exceeding forecasts to become the third largest ahead of press classified and regional newspaper advertising.
Online adspend for 2007 constitutes a 38% year-on-year increase, which translates to a market share of 15.3%.
Within a ‘relatively buoyant UK advertising market’ the internet has been the biggest driver of growth, and it is likely that online advertising spend will overtake spending on TV by the close of 2009.
Within online, display advertising and paid search marketing continue to show very healthy growth, with search growing by 39% to £1.6 billion in 2007.
Overall the online picture is very positive, with the UK leading the way above all other world markets. One of the strongest areas for growth is in the use of rich media and video for brand building and advertising, which points to how online is set to supersede TV and become the UK’s biggest advertising medium in the near future.
*The Interactive Advertising Bureau released the figures in partnership with PricewaterhouseCoopers and the World Advertising Research Centre.
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