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.