IAB reports 10% increase in online marketing revenues

Online advertising spend increased by ten per cent during the first six months of 2010, according to a new joint report.

Research conducted by the Internet Advertising Bureau (IAB) and Big Four firm PricewaterhouseCoopers indicates that online video, social and 'performance' marketing supported a rebound in the market following the UK's exit from recession.

UK marketers invested £1.969 billion on web-based advertising between January and June 2010, as the medium achieved a record market share of 24.3 per cent.

The IAB said the return to double-digit growth mirrored the general recovery of the entire advertising industry, where total UK expenditure rose by 6.3 per cent to £8.1 billion during the first two quarters of the year.

Online display advertising spend increased by 6.4 per cent to £381 million, taking a 19.3 per cent share of online advertising, with banners accounting for £272 million of this.

Video marketing spend continued to soar, rising by 82 per cent to £20.7 billion, while social media advertising accounted for an estimated 13 per cent of internet advertising spend, the report stated.