The figures have been released by the Advertising Association, and have been compiled by the World Advertising Research Center. The estimate of £597m has been arrived at by using full-year Internet Advertising Bureau figures and data from WARC's survey of online recruitment advertising spend.
It represents a 44.5% increase on the 2003 figure when inflation is taken into account, but falls short of the 53% rise that the AA was forecasting in July last year.
The AA's figures show that the press remains the biggest sector, accounting for 47.8% of spend, followed by television at 25.8%, and direct mail at 13.4%.
Outdoor advertising accounts for 5.4% of all adspend, internet at 3.2% is on the verge of taking over from radio, which accounted for 3.3% of spend, while cinema takes a 1% slice of the pie.
Overall, UK advertising rose by 5.4% last year to £18.4bn, according to the Advertising Association, the biggest rise seen over the past four years. The figure represents a 4% increase in real terms, when adjusted for inflation.
After internet, the fastest growing media were outdoor, cinema and regional newspapers.
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