Low growth predicted for UK online adspend this year
A new forecast from eMarketer projects that growth in UK online ad spending will be just 0.9% this year.
“Budget cuts have affected all industry sectors, including many that contributed significantly to online ad spending, notably banks and financial services, automotive and retail.”
However, internet spending is expected to regain some momentum in 2010, when the economy begins to rebound, and approach 10% growth in 2011. The London Olympics will fuel a further spurt of activity in 2012 and push spending growth into double digits, said eMarketer.
von Abrams added: “In the UK, online advertising still accounts for a higher proportion of total advertising spending than in any other European market.”
In April, the IAB UK revealed that UK online adspend grew 17.1% in 2008, to £3.4 billion (see UK online adspend grew 17.1% in 2008).
According to a recent Interactive Advertising Bureau Europe report, the European online advertising market was worth €12.9 billion in 2008 (see European online advertising worth €12.9bn in 2008).