UK online ad spending up 76% in the first half of 2004

Online ad spending in UK is on course to breach the 500 mln British pounds mark by year-end 2004, according to figures from the UK's Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers. The new figures show that Internet ad spend rose 76% YTY in the first half of 2004, to 266.8 mln British pounds. This gives it a market share of 3.2%, narrowing the gap with radio to just 0.5% and indicating that the sector will comfortably beat its target of overtaking radio by February 2007. Radio is seen as the next major milestone for online, after overtaking cinema last year. Radio has taken 3.7% of spend for the first half in the last three years and there's unlikely to be a change there, whereas online has grown for eight consecutive quarters.