UK online advertising revenue was for the first time greater than revenue to cinema during 2000, according to a new survey from the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers. The survey shows that internet advertising – in the UK at least – is continuing to grow at a faster rate than any other media previously.
The report says that, in spite of many commentators talking about a downturn in advertising expenditure on the Net, there has been a 203% annual growth in 2000, with each quarter growing by between 135% and 303% compared to the same quarter in 1999.
The total value of UK advertising expenditure online in 2000 was £154.7 million, up from £51 million in 1999 and £19.4 million in 1998. This is predicted to be greater than cinema for the first time, which will take around £128 million, according to forecasts.
“This is a major milestone for the industry, which shows every sign of continued growth against sluggish performance in all other sectors,” says the IAB.
