Online ads outshine gloomy sector
17 December 2003
Internet advertising nearly doubled in the first half of 2003 despite the gloom affecting the rest of the sector, the Interactive Advertising Bureau (IAB) has announced.
The trade body's latest figures show that companies spent £152 million on online ads in the six months to June, an 85 per cent increase on the same period last year.
The strong growth contrasts sharply with the rest of the advertising sector, which is still suffering from the dot.com crash of 2001 and has seen a decline of 2.6 per cent in real terms in the third quarter of this year.
According to the IAB, the spread of broadband access and the 'growing up' of the online advertising industry with search engines and large banner ads, are convincing firms to spend more through the Internet.
'The tide has turned, fuelled by rapid product innovation and unstoppable audience growth as British consumers have turned to the Internet for everything from entertainment and job hunting to shopping and news,' Danny Meadows-Klue, IAB chief executive, commented.
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