Online advertising has overtaken TV as the UK’s largest advertising medium, according to a new report by PricewaterhouseCoopers (PwC) and the Internet Advertising Bureau (IAB).
Internet based advertising grew by US $131 million in the first half of 2009 taking its share of the total ad spend to 23.5 percent. This figure is less than one percent in the Middle East however, earlier this year consultants Booz & Co. predicted that the region’s online ad market would grow at a rate of 25-35 percent this year.
“Perhaps surprisingly, a slowing economy has accelerated the migration to digital technology and hence the continuing shift from more traditional forms of advertising to online,” said Eva Berg-Winters, online advertising expert, PricewaterhouseCoopers.
“The medium promises return on investment and measurability in a period of instability. The only certainty is that this transgression demands fundamental structural change of business models across all industries,” she added.
Although search based and display ads performed well, pre and post roll video advertising experienced the largest year on year growth of 195 percent, a positive indicator for broadcasters looking to exploit content delivery via the web.