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Online adspend set to top £1bn

Online advertising in the UK will become a £1bn industry by the end of the year, according to the Internet Advertising Bureau, which this week will announce that the medium has overtaken outdoor's share of overall adspend.

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Brands spent £490m online in the first six months of 2005, an increase of 62% on the same period in 2004, giving rise to the prediction that it would break the £1bn barrier by the end of this year.

Online advertising represented 5.8% of the total advertising market for the first half of 2005, beating outdoor's 5.1% share and radio's 3.6% share, which online overtook at the end of 2004.

The half-year figures are collated by the IAB in conjunction with PricewaterhouseCoopers and the World Advertising Research Centre and are viewed as the definitive measure of the online advertising industry.

This article was first published on marketingmagazine.co.uk

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