UK’s online ad spend passes £4bn
Online advertising took off in 2010, with spending in the UK passing the £4 billion mark, according to figures from the Internet Advertising Bureau (IAB).
The IAB said online advertising spend grew by nearly 13%, and now accounted for 25% of all money spent on advertising in the UK.
Paid-for search continued to lead the way, the IAB said, making up 57% of online spend, with display and classified ads contributing 23% and 18% respectively.
According to the IAB, better broadband connections were one reason for the surge in revenue because it allowed brands to serve up video adverts to a wider audience.
“The power of online to build brands is clearly reflected in the spectacular growth of display, thanks to the popularity of social media and video formats,” said Guy Phillipson, chief executive officer of the IAB.
Bumper advertising expenditure wasn’t limited to the web, with mobile advertising growing by 116% over the year.
According to the IAB, the entertainment and media sectors contributed most to the £83m mobile pot, with growth from finance, telecoms and consumer goods companies also contributing.