Tuesday, 03 April 2012
New research has shown that annual spending in the UK on online display advertising has exceeded £1 billion for the first time, with spending on recruitment and classified adverts reaching £785 million.
The figures were ascertained through polling carried out by PricewaterhouseCoopers (PwC) and analysed by the Internet Advertising Bureau UK (IAB). They found that, despite the ongoing difficulties in the recruitment market, the 2011 spend on classified adverts grew by 5.2 per cent from the £751 million spent in 2010.
When broken down by industry sector, the research found that finance remained the biggest spender on online display advertising, with just over 15 per cent of the market, but was being swiftly caught up by consumer advertising, which had exactly 15 per cent.
The director of research and strategy at the IAB, Tim Elkington, said that the difference in spend on online and mobile advertising since the survey was first carried out in 1997 was “staggering”.
He explained, “The 2011 results are full of breakthroughs for digital; with online display passing the £1billion barrier for the first time, proving that advertisers increasingly recognise the central role that online plays in their marketing campaigns.”
PwC strategy manager, Anna Bartz, added, “This year’s results reflect the continued appeal of digital media – on desktop, mobile or tablet – to advertisers for both brand advertising and direct response. Internet adspend's 14.4 per cent growth is exceptional when compared to an estimated advertising growth of less than 2 per cent across all media in 2011.”