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UK online ad spend hits the roof

Thought UK web businesses were skint?...
Written by Heather McLean, Contributor

Thought UK web businesses were skint?...

Online advertising spend in the UK has almost doubled in the first half of 2001 through year on year growth, making it the only advertising sector to move up in double digits. Internet advertising shot up 42 per cent to £90.2m in the first and second quarter of 2001, from £64.2m for the same period last year, according to the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers. Danny Meadows Klue, chairman of the IAB, commented: "As budgets tighten, online lets them [advertisers] plan with precision how to deliver and monitor campaigns. The medium has risen to the challenge of tracking return on investment." Banner advertisements generated most of the advertising revenues, yet incremental growth was seen in other media formats including tenancies, nested content, interstitials and sponsorships. The research measures actual revenues submitted to the financial departments of online media companies, not forecasts. Of the total internet advertising market share, 89 per cent is controlled by the 10 largest publishers and advertising networks.
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