According to a recent study, online ad expenditure has overtaken TV for the first time in the UK. This is quite remarkable considering the fact that the overall ad spending has contracted due to the current economic climate.
The UK Online Adspend Study Results for the half year to June 2009 was carried out by the Internet Advertising Bureau (IAB) in partnership with PricewaterhouseCoopers (PwC) and the World Advertising Research Centre (WARC). FYI, the IAB is the trade body for digital marketing here.
The study shows that internet advertising grew by 4.6% to £1,752.1 million. It was revealed that most marketing budgets went to Paid-for search which was growing. This made up £1.1bn or 62.6% of all online advertising expenditure.
I wonder whether this growth is due to the fact that Internet advertising is much cheaper/ cost effective than offline advertising in traditional media.
For more detailed information visit the IAB site