According to the Internet Advertising Bureau, with the 18.7% rise, internet advertising now accounts for 1.4% of total media spend in 2002 -- up from 1.2% in 2001. The IAB claims that the industry is now on track to meet its target of 2% market share by autumn 2004.
Danny Meadows-Klue, chief executive of the IAB, said: "We're on track. The figures are heartening news and a wake-up call for the marketer who sees their website as the end of their online presence."
The rise comes following a period of contraction in the advertising industry during 2001 proving, Meadows-Klue said, that online has bounced back.
"Smart marketers know that the internet is not a fad and are seeing the value of brand-building integrated campaigns that complement other media activity," he said.
The survey is good news for online media owners, after growth stagnated in 2001, rising only 7% from 2000. It makes online advertising the fastest-growing medium.
The IAB reports that online advertising is no longer seen as a risk by advertisers, who are becoming more adventurous. They have also seen the effectiveness of online campaigns, and with levels of internet usage higher than ever, audience levels are now comparable with some traditional media.
Richard Eyre, recently appointed chairman of the IAB, said: "Advertisers' use of the web has been trailing that of the customers. The catch-up has begun."
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