Some of the biggest-spending advertising brands are starting to move their expenditure to online advertising, driving the overall growth of the medium, according a new report from Nielsen//NetRatings.
For example, Nielsen’s US-based survey has found that the business and consumer services category – which includes some of the largest advertisers such as financial services and telecommunications – has increased spend by $100 million year on year in the first quarter of 2003.
Significantly, this $100 million rise accounts for 58% of the total $172 million rise in overall US online adspend in Q1 2003, demonstrating that much of the growth is coming from this major advertising category.
“The lion’s share of this growth is now coming from industries known to spend significantly on traditional advertising. We’re getting more definitive evidence that the industries that spend the most on advertising overall, such as business and consumer services, autos and pharmaceuticals are stepping up their commitment to online,” says Charles Buchwalter, a vice president at Nielsen//NetRatings.
