Online advertising breaks through 4billion pound barrier
1st April, 2011
A report out earlier this week has detailed figures that show online advertising spend has now shot through the 4 billion pound barrier, reaching 4.1 billion according to the Internet Advertising Bureau (IBA) and a study published by PwC.
Figures show that one pound in every four pounds spent on advertising in the UK last year was spent on online/digital adverts, a significant growth of 12.8% up from 2010.
The highest area of growth was display advertising on social network sites, which saw an increase in advertising spend of over 200%. With figures showing that UK internet users now spend over 25% of their time online looking at these sites it isnt difficult to see why advertisers have increased their spend in this area.
Mobile advertising, search advertising and online video advertising have also seen a significant growth, with spend on the latter almost doubling in 2010. Video advertising has become increasingly popular with advertisers who can now target specific audiences before, during or after video clips available online.
Other areas of advertising, including television, also showed a growth in 2010; a sign that companies budgets and advertising spend is making a recovery after facing a fairly sharp decline in recent years.
But unfortunately not all areas have recovered quite so well. Press advertising spend is still on the decline with magazine and papers (both regional and national) seeing revenues continue to fall.
With no sign of the growth in online advertising stopping it will be interesting to see what new developments and strategies businesses employ to continue appealing to their target audiences.
If youve got a product or service you want to advertise online why not give us a call or drop us an email to see how we can help? We can be contacted on 01273 702525 or firstname.lastname@example.org