SINGAPORE: Online advertising expenditure is rising rapidly in Singapore, driven by telecoms, technology and financial services brands.

Trade body the IAB and PricewaterhouseCoopers, the consultancy, reported that spending through this channel reached S$64.6m ($US49.4m; €35.7m; £31.3m) last year, up from S$51.3m during the previous 12 months.

Such an acceleration beat corresponding figures recorded by the domestic and global ad markets, and the local economy.

However, the web only accounted for an estimated 6% share of advertising outlay in Singapore in 2009, bettering the level of 3.6% in 2008, but well behind advanced markets like the UK, where this stands at 23%.

Totals in the opening six months of 2010 topped S$40m, with display taking half of online budgets, search on 39% and classifieds receiving 11%.

Overall, search has been almost solely responsible for driving up revenues, improving by almost S$7m year-on-year, with display growing by just S$2m.

Technology and telecoms each delivered around 20% of all online returns, followed by financial services on roughly 16%, then travel/leisure and government.

Performance and cost-per-thousand models both generated approximately 45% of revenues, while tenancies were responsible for slightly more than 10%.

Data sourced from IAB Singapore; additional content by Warc staff