Web marketing to exceed €1 billion
25 November 2003
Research has suggested that European online advertising is on course to exceed €1 billion in 2005.
A continent-wide survey by the Forrester Research group has indicated that, although traditional media such as television, newspapers and hoardings continue to have the largest share in advertising budgets, online marketing is the sector's biggest growth area.
At present, the web hosts just one per cent of all advertising in Europe, a figure that is expected to rise to 1.5 per cent by 2008.
According to Forrester, a new feeling of optimism surrounding the internet in general is to have a positive effect on online advertising.
Spending on online display (banner ads and sponsorship, but not job advertisements) is due to increase this year by 12.5 per cent, resulting in a total budget of £555 million.
The study also suggests that the various tools available to internet users will each have an individual impact on web advertising:
'Other marketing tools like search, email and classified ads also drive the growth of digital marketing. These elements are likely to grow as fast as, if not faster, than display ads', said the report.
57 per cent of Europeans currently have internet access; they will buy goods worth £33 billion this year. Those figures' improvement - to 69 per cent and £100 billion by 2007 - will provide even further incentives for advertisers to base operations over the net.
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