Online ad expenditure props up market

Online ad spend in the UK grew by 21% to 1.68bn in the first six months of the year, according to the latest Internet Advertising Bureau report. It reveals that internet advertising propped up the total ad market, which fell as companies cut back on marketing.

Online ad spend in the UK grew by 21% to £1.68bn in the first six months of the year, according to the latest Internet Advertising Bureau report. It reveals that internet advertising propped up the total ad market, which fell as companies cut back on marketing.

The IAB commissioned report conducted by PricewaterhouseCoopers also showed that the total advertising market was down by 0.7% in the first six months of the year. However, it adds that internet ad spend prevented what would have been a 4.6% year-on-year decline.

IAB chief executive, Guy Phillipson, says: “Online is not immune from economic downturn, but while other sectors see falls in expenditure, the internet is still experiencing an incredible increase and is propping up the entire advertising market.”

Phiilipson predicts that online ad spend could reach more than £3.2bn in 2008, as advertisers look to maximise their budgets and take advantage of new display advertising formats, such as video.

The report revealed that technology was the highest-spending sector within internet display advertising, with a 17.3% market share.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here