MADRID: Online advertising expenditure is continuing to rise in Spain, with display now growing at a faster rate than search.

Industry body the IAB and PricewaterhouseCoopers, the consultancy, reported that digital adspend stood at €377.4m ($525.7m; £334.8m) for the opening six months of this year, a 20.3% increase from the same period in 2009.

This equated to a 13% market share, and meant the web was the third largest media channel overall.

Paid search received 52% of the internet total, or €196.1m, having experienced a 13.8% expansion compared with H1 2009.

Display took a 48% proportion of marketers' new media outlay, improving three percentage points year-on-year after a 28.1% revenue surge, the first time it has outpaced search in the recent past.

Indeed, the IAB/PwC analysis suggested this trend signified a "revival of brand advertising" using the web.

Telecoms provided 12.9% of online returns, beating automotive's 12.7%, and transport, travel and tourism with 10.2%, down around 5% on H1 2009.

Media, education and culture registered 8.4%, and financial services generated 8.3%, the study revealed.

Elsewhere, brands in the health and beauty sector boosted their contribution from 3.4% during the first six months of last year to approximately 5.3% at present.

Integrated formats such as banners and skyscrapers collected 51.3% of display expenditure, while email marketing recorded 8.9%.

Floating and expanding ads delivered 5.6%, and video - including spots, pre-, middle- and post-roll ads - enjoyed a 100% increase to reach 2.7% of display income.

Mobile network operators Telefónica and Vodafone headed the company rankings, and rival Orange also occupied fourth spot.

Consumer goods giant Unilever was third, with carmakers Peugeot, GM and Renault, bookmakers Betclick and IT specialist Microsoft completed the top ten.

In all, 62.3% of campaigns employed cost-per-thousand payment models, 15.3% leveraged cost-per-acquisition or similar methods, 12.9% ran on a fixed-time basis and 7.3% utilised cost-per-click.

The mobile internet attracted 0.41% of display investment in the first half, or €1.54m, a modest 1.3% increase.

Figures for the study were based on information from 44 companies alongside search data supplied by agencies, and are estimated to cover nearly 90% of the Spanish interactive advertising category.

Data sourced from IAB; additional content by Warc staff