Internet Advertising Now Bigger Than TV Advertising In The UKSep 30th, 2009 | By James Lewin | Category: General, Making Money with Podcasts
Good news for new media publishers – Internet media is rapidly becoming the biggest channel for advertising.
The Guardian reports that the UK has become the first major economy where advertisers spend more on internet advertising than on television advertising, with a record Â£1.75bn online spend in the first six months of the year.
This overturns nearly half a century of dominance by the television broadcast industry:
UK advertisers spent Â£1.75bn on internet advertising in the six months to the end of June, a 4.6% year-on-year increase, according to a report by the Internet Advertising Bureau and PricewaterhouseCoopers. To put this in perspective, in 1998, when the IAB first measured internet advertising, just Â£19.4m was spent online.The internet now accounts for 23.5% of all advertising money spent in the UK, while TV ad spend accounts for 21.9% of marketing budgets.
The IAB originally predicted that internet ad spend would overtake TV at the end of 2009; however, the crippling advertising recession accelerated this by six months. TV advertising fell about 17% year on year in the first half, to about Â£1.6bn, according to the report.
This is an inevitable trend, but this switch is a milestone for online advertising.
One possible threat to the growth of online advertising an online media is concern over tracking. The New York Times reports that 2 out of 3 object to online tracking. Any changes to regulations around online ad tracking could delay migration to online ads.