Spending on internet advertising topped £1.75 billion in the first half of 2009, a rise of just 4.6 per cent compared to the same period last year. But the increase was enough for online advertising to pass declining TV spend, which sits at £1.64bn, for the first time in a major market.
The figures from PricewaterhouseCoopers and the IAB tell a success story for the online industry, which has toppled TV's 50 year reign as the UK's leading medium. Online advertising now accounts for 23.5 per cent of all ad spend compare to TV's 21.9 per cent.
It's not all been rosy, however, as online publishers have been devastated by falling display prices. Display advertising only makes up 18 per cent of online advertising, totalling a paltry £317m, compared to the £1.05bn and 60 per cent share taken up by search marketing.
Another warning to the industry is that, while Q1 2009 saw £920m spent on online advertising, Q2 saw just £832m.
But the figures tell the story of immense growth in a little over a decade, since online advertising started appealing to brands looking to sell goods online.
TV stoics have already criticised the figures, saying they are meaningless in a converging world, but they show that a new generation is growing up with the internet and brands have finally realised that's where they need to be.
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