Today the UK became the world’s first major economy where marketers spend more money online than they do on TV. Figures released by the IAB and PwC show that almost a quarter of every advertising pound spent is online, whilst TV investment share has dropped to under 22%. The UK remains the world leader in terms of market share for online advertising.
The same study highlights continued growth in digital investment in an advertising market in recession – the growth rate has slowed to 4.6% in the first half of this year, but the overall advertising industry shrank by 16.6%. This growth is driven primarily by search marketing due to the clear accountability and high return on investment to advertisers - very recession friendly for us marketers. Search grew by 6.8%; making up for the decline in digital display which declined at a third of the rate of the overall industry.
Could digital finally be a mature marketing channel? More fool those advertisers and agencies who are still treating it as ‘new media’!