Internet ad sector 'bucking economic slowdown'
Internet Marketing
07 October 2008
The UK internet advertising industry appears to be seeing growth contrary to that in other sectors as the credit crunch continues to bite, a new report has indicated.
Spending on online advertising reached almost £1.7 billion in the first six months of 2008, up 21 per cent compared with the same period last year, according to the study by the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers.
This is compared with a 0.7 per cent decline for the overall ad sector - which would have equated to 4.6 per cent without taking the web channel's growth into account.
Expenditure on search marketing rose by 28 per cent to £981 million, with display ad spending rising by 16.3 per cent to £333.8 million.
"The growth in internet advertising spend is beating all expectations as advertisers look to maximise their budgets and take advantage of new display advertising formats such as video," said Guy Phillipson, chief executive officer of the IAB.
Last month, the European Interactive Advertising Association revealed the findings of a poll suggesting that European marketers are looking to implement double-digit growth in their online spending over the next two years.
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