UK web advertising spend reached £3.35bn on a like-for-like basis last year - a growth rate of 17 per cent - as businesses look for more accountable marketing tools, according to research.
The report by the Internet Advertising Bureau (IAB), carried out with PricewaterhouseCoopers and the World Advertising Research Centre, said the web was the only medium to show strong growth in 2008 as the total advertising market fell by 3.5 per cent, the equivalent of £17.5bn.
The study suggests that the UK is the world's most developed online ad market, with £1 in every £5 of media budgets spent on the web.
Online platforms claimed 19.8 per cent of overall ad spend in the second half of 2008, with paid-for search highlighted by the study as the "recession buster ", with growth of 22.7 per cent last year.
"These are really tough times and advertising budgets are being slashed,” said IAB chief executive Guy Phillipson.
"More than ever, marketers have to demonstrate a clear return on their media investment, and accountability is online's trump card."
reader comments