Online advertising defies the economic gloom
Wednesday, 14 May 2008
Volatile markets and interest rates rises were not enough to dent the growth of Australia’s online advertising market in early 2007, a new report reveals.
According to Interactive Advertising Bureau Australian figures, spending on online advertising hit $384.5 million in the first three months of 2008, a 30.8% jump on the same period in 2007.
Strong growth was evident in the classified advertising sector in the three months to March 2008, up 8.4% on the previous quarter, while display advertising declined by 9.6%.
IAB general manager Patty Keegan says the figures point to significant growth in the sector.
“It’s the sixth consecutive year-on-year increase for online advertising and supports the data recently released by Commercial Economic Advisory Service of Australia that clearly showed online advertising is continuing to increase in both relevance and impact on the Australian advertising market,” Keegan says.