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UK online adspend up 28% in 2001

LONDON - Online advertising grew 28% in 2001 to £1.2m, boosted by a 59% increase in financial services advertising, according to the latest report by Forrester Research.

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Advertising by financial services companies accounted for 25% of the market. The second-largest online advertising spender was the consumer goods sector, which increased its spend by 11%, while media and entertainment advertising grew 17%.

The increase in online advertising is in stark contrast to the overall UK advertising market, which fell 3.4% as the media downturn severely hit adspend in the second half of last year.

The research shows that online advertising was boosted by a particularly strong first half, which saw online advertising grow an average of 52%. This figure fell to just 15% in August and declined by 6% in November.

The research predicts an increase in online advertising from the automotive sector and the consumer packaged goods sector in 2002.

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