Talk about a milestone for the Internet.
The UK has become the first major economy where advertisers spent more on internet advertising than on television advertising.
According to a report by the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers, advertisers spent a record £1.75bn on online advertising, a 4.6% year-to-year increase, in the first 6 months of 2009
In 1998, when the IAB first measured internet advertising, only £19.4m was spent online.
The internet now accounts for 23.5% of all advertising money spent in the UK, while TV accounts for 21.9%.
Your reading it right.
More money is spent by advertisers on the net than on TV in the UK.
According to the IAB’s of the £1.75bn spent on internet advertising, £1.05bn, or 60%, was spent on search advertising, up 6.8% year over year.
Online classified advertising grew by 10.6% year to about 22% of total internet advertising, online display advertising, fell by 5.2% to £316.5m, or 18% of all internet advertising.
Now if we can only figure out why our revenue keeps falling, while search advertising keeps growing.
Funny Mike I had just posted this info too, it is an interesting trend. Where do we go from here ?
“Now if we can only figure out why our revenue keeps falling, while search advertising keeps growing.”
Great Question, I do not think we will ever get the whole story.
and “online advertising”… means… for over 60% today and 80-90% in future… “Google”!!!
Hello Mike,
This comes as no surprise to me. I recently was visiting friends in Wales Great Britain and was amazed at the contrasting roman walled one lane streets, from roman times and yet everybody was internet savvy. This goes to show you how backward our country is in many ways. Our corporate giant digital providers fight for market share and the end result is that the digital revolution we started is growing faster abroad, because of their blocking access for their own greedy reasons. Capitalism allows money to impede progress in many instances. Ah– dont you just love it?
“Now if we can only figure out why our revenue keeps falling, while search advertising keeps growing.”
It’s called getting ripped off!