Internet advertising revenues to surpass radio
22 July 2004
The amount spent on advertising on the Internet is set to surpass that spent on on commercial radio within three years, according to new research
The Internet advertising market in the UK amassed an estimated £350 million in 2003, which according to industry trade group, the Internet Advertising Bureau (IAB) UK, puts the industry on track to surpass the commercial radio market withinin 3 years.
The IAB's UK annual report revealed that advertising revenues surged 80 percent year-on-year, boosted by the demand for corporate-sponsored search listings and a surge in new users.
The growth figure is higher than the group's estimate published in earlier in the year when it said UK online advertising market would grow at around 50 per cent in 2003, the reuters news agency reports.
The IAB UK forecast online advertising revenues are expected to £600 million by 2007, exceeding those expected by the commercial radio market.
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