Internet advertising is now worth about 10% of the overall advertising market in Ireland, according to a new survey carried out by IAB Ireland, the trade association for the online advertising industry, and PricewaterhouseCoopers (PwC) found that online advertising spending reached â??97.2milllion in 2009 with the total Irish advertising market is estimated to have been worth â??940million in 2009.
Advertising tied to search accounted for 46.2% of total online spending which was broadly in line with the European average. Classified and display adverts achieve a 27.2%and 26.6%share respectively. Bartley O Connor, senior manager wit PwC Consulting, said the news reflected evidence of growth in online advertising and has overtaken outdoor advertising, magazine and cinema advertising reflecting onlineâ??s move to centre stage.
As the internet continues to grow and develop as a platform for entertainment, information and communication for Irish users, so too will the advertising revenue it can attract. Suzanne Mc Elligott CEO of IAB said that this benchmark study provides great confidence for future growth of the medium and allows us to provide potential advertisers with the level of detail that previously unavailable.
Business Section Irish Independent Wednesday, (July 28 2010); p 25