New heights in online advertising

New heights in online advertising
31/10/2005 onrec.com
The latest IAB (Internet Advertising Bureau) findings show that value of online advertising revenue this year in the UK is set to top £1billion, for the first time.

The findings have been lauded by CEO of the online job-board Yngve Traberg, which recently launched a ground-breaking new website, and looks set to ride the rising tide of online advertising success.

Traberg said: “With the number of online users available, it has now become paramount for companies to have a coherent online advertising strategy. For the job market in particular, the Internet is a powerful tool for making the right connection between employers and would be employees. Clearly the more experienced people are in using the Internet, the faster they will be able to take up the opportunities it provides. Consequently the number of candidates who look at the Internet as their primary source of new career opportunities will increase, as online advertising has.”

The IAB findings, which have been produced in conjunction with the World Advertising Center and PriceWaterhouseCoopers, have highlighted a rise of 62 per cent in online advertising to £490million for the first half of 2005, while in comparison, overall advertising rose by just three per cent.

The findings pinpoint the rise in the number of broadband Internet connections as the reason behind the revenue increase. "The growth in online advertising is showing no sign of slowing down," said Paul Pilkington, from PriceWaterhouseCoopers.

"The Internet is an exceptional medium in that it now acts as a source of entertainment, information and communication for the majority of the
UK population.

"Advertisers are realising this and allocating their budgets accordingly.”

These half-year figures have prompted the IAB to predict online advertising revenue to surpass the £1bn mark.

This it the first time that online advertising has achieved growth above billboard advertising, and with the first-half figures higher than the entire revenue for 2003, showing no signs of change, the online future is looking bright.