IAB corrects £50 million error in online ad figures

The IAB and PricewaterhouseCoopers have been forced to admit to a £50 million discrepancy in their online ad spend figures for the first half of 2009.

The initial figures released two weeks ago claimed that online classified advertising had grown by 10.6% year on year to £385.06 million, helping total online ad spend to hit a record £1.75 billion and overtake TV to become the UK’s biggest advertising medium.

However, the trade body sent an email to its members after the official launch admitting to an error that has now been corrected.

The revised figures show a 3.6% decline for classified advertising to £335.8 million and despite the £49.26 million discrepancy, the total online ad spend figure for the first half of 2009 remains the same at £1.75 billion.

IAB’s chief executive Guy Phillipson said the mistake does not affect the total and therefore online ad spend is still higher than television.

“The topline is completely unaffected,” Phillipson said. “Marketers spend nearly £1 in ever £4 online and this remains unchanged.”