Well our friends over at the Internet Advertising Bureau (IAB: www.iabuk.net) have been crunching those numbers again, online advertising now has a 15% share of the market with spend topping £1.3bn in the first six months of 2007. Impressive and means that online has overtaken the direct mail sector, which has a market share of 11.8%. The question is as the fastest-growing advertising medium has the internet propped up the UK advertising economy?
Here’s some other pretty impressive online advertising industry figures:
- 41.3% year-on-year growth
- £918m was spent in the first 6 months of ‘07
- Total UK advertising market grew by 3.1% in the first 6 months of ’07 to £9.1bn
- Although without online UK media expenditure would have fallen by £147m or 1.9%.
- Total spend for ’07 predicted to reach £2.75bn
IAB chief executive Guy Phillipson commented, "The online market is developing at an astounding rate and once again we see exceptional growth and a significant increase in market share. We're seeing women and the over 50s spending far more time online, which makes the internet a very attractive medium to a broader set of advertisers."
Source: commissioned by the IAB in association with PricewaterhouseCoopers and the World Advertising Research Centre.
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