The UK leads Europe in terms of total online advertising spending and is expected to experience even more growth in the sector, new figures show.
Research by eMarketer shows that the UK’s total online advertising spending rose by over 30 per cent in 2007 and will rise by another 27 per cent in 2008.
In addition to this, online ad spending in the UK is expected to continue to exhibit double-digit annual growth up until 2010 and will approach the £5 billion mark by 2012.
Media buyer GroupM estimates that the internet accounted for £2.3 billion in 2007 or 18.3 per cent of all advertising and predicts that because expenditure on TV advertising may fall, online ad spending in the UK could overtake that of TV ads as soon as 2009.
“Online advertising should hold its own in the UK and may even consolidate gains over other media during the economic pinch,” commented Karin von Abrams, eMarketer senior analyst.