The figures come from the Interactive Advertising Bureau and PricewaterhouseCoopers. They show that online adspend reached a record £151.6m in the first half of 2003 and that year-on-year growth was 85%.
The IAB is now predicting that online advertising for the year 2003 will top £300m for the first time. It now accounts for 2% of the market, compared with cinema's 1.1% and radio's 3.7% of total advertising expenditure.
The survey found that while banner advertising remained the most popular format, paid-for search listings now account for 36% of the market. Classified ads account for 12% and sponsorship for 6%.
Danny Meadows-Klue, chief executive of the IAB, said: "Marketers are investing more online every month because it works. Online is being used by mainstream marketers to support every aspect of the marketing mix, with a powerful track record now proven for those building brands and generating response."
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .
.jpg)
.jpg)