The UK's online ad market soared by 18.7% last year to almost £200m, comfortably outperforming all other media, according to the IAB figures, which were audited by PricewaterhouseCoopers.
They show total online adspend grew to £196.7m for 2002, up from £165.7m the previous year.
Financial services doubled spend over the course of the year while automotive and FMCG brands also rose faster than the headline figure.
The second half of the year was particularly encouraging for the medium, with £51.1m spent in the third quarter and £63.8m in the three months to December. The internet now accounts for 1.4% of total UK adspend and the IAB said it is on course to hit its target of 2% by September 2004.
IAB chief executive Danny Meadows-Klue said the possibilities offered by broadband helped to ensure the internet did not remain confined to a direct response medium. "There's a confidence in online branding that wasn't there a year ago," he added.
He said plenty of blue-chip advertisers had shifted spend toward the web and away from traditional media in light of the economic downturn.
According to Fishbowl Research figures last year, the internet accounts for 12% of media consumption among households with web access.
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