Online Advertising shows highest ever spend
Online advertising continues to rise
Thursday, November 10th 2011 by Steve Swallow
Spending on online advertising by internet marketing consultants has shown its highest ever spending growth to reach 20.5 per cent in the first half of 2011.
Meanwhile, spending on other areas of advertising is actually down by 1.5 per cent year-on-year, research from the Internet Advertising Bureau (IAB) has revealed.
The study showed that online advertising now enjoys a 13 per cent share of the total advertising market with the online advertising spend in Ireland during the first half of the year standing at AC64.9 million (£55 million), while spend on other media, including press, TV and radio was AC443.4 million (£379 million).
This leaves online advertising as the third biggest form of advertising behind newspapers and TV. It has now even surpassed traditional heavyweights such as radio, outdoor, cinema and magazines.
PricewaterhouseCooper’s Bartley O’Connor told Siliconrepublic.com: “The growth levels we’ve seen in Ireland is a reflection of the fact that more people are online, businesses are online. The advertising industry realises now that this is not a fad and we believe the next wave of the internet will drive significant growth in this area.”
The study also showed that people spend as much time online as they do watching TV, leading to the predicted growth of online advertising. Some 77 per cent of the participants in the study anticipate some form of growth from the market in the next six months.
A further 55 per cent increase in smartphone ownership is also anticipated in 2012 in the Irish market, with smartphones continuing to rival desktops. This could lead to the further growth of online mobile advertising.
Mr O’Connor added: “They [brand and businesses] are realising that their target customers are spending most of their time online, and that 19s where they need to be.”
Mike Taylor, founder of web-based recruitment, recently urged his industry to pay attention to the growth of mobile recruitment.
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