Online advertising in Britain outgrew the rest of the media market in the first half of 2003, claims the UK Internet Advertising Bureau.
Although still a minnow in comparison with major media -- adspend market share just 2% -- in terms of growth internet advertising outpaced the field.
The latest data from the IAB and PricewaterhouseCoopers reports H1 year-on-year growth at 85%, valuing Britain's internet advertising market at £151.6 million ($283.26m; €222.51m) and lifting spend to £266.5m in the twelve months ended 30-Jun-03.
Given the year-end holiday season boom, the IAB predicts full year revenues for 2003 will top £300 million for the first time, fifty per cent up on 2002.
Based on market share data from the Advertising Association, the online ad sector now leads cinema (1.1%) and at the present rate of growth could overhaul radio (currently 3.7%) within 2-3 years.
The IAB attributes the surge in spend to a number of factors: the amount of time audiences spend online, the inflow of mainstream marketers and the growing ease of using the internet.
Data sourced from: Media Week (UK); additional content by WARC staff