Online advertising spending in Britain overtook national newspapers for the first time in 2006, as companies continued to chase a growing web audience, according to figures released today. Online spending shot up by more than 41 per cent in 2006 to just over £2 billion, according to figures released by the Internet Advertising Bureau. However, the total spending for the ad industry grew just 1.1 percent during the year.
The increase in online spending counterbalances a 4.7 per cent decline in television spending and a 0.2 per cent rise in newspaper ad spending, to £1.9 billion, taking a 10.7 percent share of the market. However, despite online ad spending capturing an 11.4 percent market shares, internet ad spending was just over half if compared with TV adverts. TV advertising itself witnessed a 4.7 percent fall in spending to £3.9 billion.
The IAB said in its report that the internet had overtaken radio as the second most popular medium after TV. The group’s chief executive Guy Phillipson seemed confident about the sustainable strong growth.
The report further outlined the fact that advertisers are increasingly taking use of social networking sites to reach younger consumers in a move demonstrated by the express emergence of viral video campaigns.
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