Spending on internet advertising is propping up the UK marketing industry, according to a new report.
Internet advertising spending grew in Britain in the first half of 2008 despite an overall decline in the
amount of money given to advertisers, according to new figures.
The UK spent an extra 21 per cent on online adverts in the first six months of the year, totalling £1.68 billion, says the report released by the Internet Advertising Bureau (IAB).
This is despite the overall advertising sector experiencing a decline of 0.7 per cent in marketing.
Search engine advertising grew by 28 per cent year on year to make it the leader in online marketing spend, while 16.3 per cent more money was used on display ads, added the report.
Guy Phillipson, IAB’s chief executive officer, said: “Online is not immune from the economic downturn, but while other sectors see falls in expenditure the internet is still experiencing an incredible increase and is propping up the entire advertising market.”
Executives were also beginning to see the profitability in new technology like video and banner ads, he added.
The statistics come after a survey by iPerceptions earlier in the week found that people with lower incomes were more likely to click on internet ads.