Online to pass £500m in 2004 as adspend grows 76%
LONDON - Online advertising has crossed the line to take more than 3% of total UK adspend in the first half of the year, with marketers investing £266.8m in the medium.
The figure is up 76% on the same period last year, and means that £468.8m was spent on online advertising for the 12 months ending June 30 2004. On releasing the figures today, the Interactive Advertising Bureau said it was confident that total online adspend for 2004 would cross the half-billion mark for the first time.
Internet advertising has now seen eight consecutive quarters of growth and is the fastest-growing medium in the history of advertising.
The IAB has attributed the growth to the fact that people are spending more time online than ever, and the fact that creativity in online advertising is improving.
Danny Meadows-Klue, chief executive of the IAB, said: "We're charting a permanent shift in how the marketing process works. This is still firmly about integrated marketing but as more brands tap into online, marketers are discovering its role in the mix should be even greater. And the staggering pace of innovation means we're only scratching the surface of what this marketing channel can really do."
The figures have been published today by the IAB and PricewaterhouseCoopers, which have been tracking the internet ad market since 1997.
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