Customer migration sees online advertising eclipse TV
Fri, 02 Oct 2009
Online advertising spend in the UK has overtaken television expenditure for the first time, it has been reported.
According to the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers (PWC), web marketing grew 4.6 per cent to £1.752 billion in the first half of 2009, despite a reduction in overall spending due to the recession.
The IAB and PWC stated that the internet has now become the UK's single biggest advertising medium, with advertisers following their audiences online.
For companies this may offer encouragement, given the relative costs of promoting their activities online as opposed to on TV.
Commenting on the study, Guy Phillipson, chief executive of the IAB said internet advertising had "beaten all expectations" to achieve growth in the most challenging market conditions.
He stated: "Online display has performed notably well against its peers in TV, print and radio despite more than £1.5 billion being wiped off the advertising industry. We have a rollercoaster of a year ahead but even in tough economic conditions marketers still recognise the value, accountability and measurability of online advertising."
Simon Mansell, managing director of TBG, recently claimed that because online advertising is traditionally used for direct response, it will hold up well during the recession.
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