A recent report has seemingly confirmed what online marketing experts have been predicting for some time – the overtaking of TV advertising with internet advertising and marketing initiatives.
The report, published at the weekend by PriceWaterhouseCoopers and the Internet Advertising Bureau, showed that the total spend for online marketing leapt by 14 per cent in the first six months of 2011, coming to a grand total of £2.3 billion and pushing internet advertising’s share of the market up to 27 per cent.
Advertisers spent a whopping £45 million on viral videos, noting that 2.3 billion of these vids are watched every month – which is twice as much as was spent last year. As a whole, display advertising online increased its spend by 18.5 per cent year-on-year to a total of £510 million and a 23 per cent market share.
Financial institutions were the biggest spenders when it came to making the switch to online marketing, followed by supermarket chains Tesco and M&S, car giant Ford and BSkyB.