Magazine article Marketing

Online Ads Save UK from Slump

Magazine article Marketing

Online Ads Save UK from Slump

Article excerpt

Internet advertising broke through the pounds 1.3bn barrier in the first half of 2007, preventing the UK advertising industry from slipping into recession.

The latest figures from the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers show that the online advertising sector grew by 41.3% year on year to reach pounds 1.33bn, lifting its share of UK adspend to almost 15%.

The total UK advertising market grew by 3.1% during the first half of the year to pounds 9.1bn. However, without the contribution of digital media, total adspend would have fallen by pounds 1.9bn. 'Online advertising is still bringing home the bacon,' said IAB chief executive Guy Phillipson. 'The UK advertising economy would be in a much sorrier state without it.'

The rapid growth of online advertising puts it on course to reach a value of pounds 2.75bn by the end of the year. Internet adspend has already leapfrogged national press and direct mail, with analysts expecting it to overtake TV by the end of the decade.

The value of digital display advertising increased by 33% year on year to hit the pounds 287m mark as marketers continued to take advantage of banners, skyscrapers and rich-media formats, including video ads. …

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