UK media spend on online advertising networks will reach an estimated £385 million in 2008, following growth of 60%, according to a new report from e-consultancy.
e-consultancy said that this growth was due to improved understanding of the potential for return on investment and increased opportunities to reach the right audience effectively, for example through the use of behavioural targeting.
Linus Gregoriadis, head of research at e-consultancy, said: “Online ad networks operate in one of the most competitive spaces in the digital sector, and often one of the most controversial.
“But in spite of their challenges, networks continue to benefit as marketers raise their digital budgets and recognise the economies of scale networks bring to campaigns.”
e-consultancy has also estimated that the ad-network market doubled in 2007, from £120 million to £240 million.
The latest figures from the IAB and PwC show that online advertising grew almost 40% year on year in 2007 to a new high of over £2.8 billion (see UK Online Adspend Grows Almost 40% Year On Year In 2007).
Internet advertising spend in 2007 exceeded forecasts and is now larger than press classifieds and regional newspapers. The study reveals a continued healthy growth as online looks set to overtake spending on TV by the end of 2009.
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