| U.K. Online Ad Spend Beats all Estimates |
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Revenues from online advertising increased by 62.3 percent in the first half of 2005 as compared to the same period in the year 2004. Online advertisements market share has overtaken that of outdoor advertisements, with the former accounting for 5.8 percent of the market as against 5.1 percent of the latter.
This was reported in a study carried out by PricewaterhouseCoopers on behalf of the U.K. Internet Advertising Bureau (IAB). This report was submitted following a survey of 75 companies which had increased online presence running into thousands of websites. In fact, IAB U.K. had expected online ads to overtake outdoor ads only by mid-2006.
As far as figures go, revenues from online advertisements touched £490.8 million ($861 million) in the first half of 2005. IAB U.K. expects that online ad spend for the overall year would touch the magical figure of £1 billion ($1.8 billion). Of reasons cited by IAB U.K. for the spurt in online ad spending, key factors seem to be improved penetration of broadband and increased retail spending online. The increasing popularity of Google along with other search engines also cannot be undermined.
Also interesting is the fact that the total advertising spend for the first half of the year rose by 3 per cent as against the same period in 2004. Television improved its share to 23.6 per cent. Press advertising remained steady with 41.2 per cent of the market share. The segments that saw their ad revenues really nosedive were radios and direct mailers.
Posted
on : Tue, 04 Oct 2005 13:05 GMT | Business News
By : Mark Richardson
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