Online ad market growing strongly
By Stuart Corner
Monday, 07 August 2006 06:56
Total online expenditure for the second quarter of 2006 topped $226 million, representing growth of 59.4 percent over the past twelve months. General online advertising grew 32.2 percent to be worth $76 million in the quarter. Classifieds online advertising grew 8.1 percent to $67 million and search and directory grew 9.9 percent to $83 million.
According to IAB, the general online advertising sector has diversified in terms of categories, with the auto sector increasing its share of general advertising as well as in its traditional sector of classifieds. "[In] this quarter, recruitment is the new star category for general online advertising, being...the fastest growing category in this sector with 33 percent growth, as well as being the largest spender in the classifieds market sector."
According to the general manager of the IAB, Patty Keegan: "The ABVS results show that online is shaking up the traditional marketing and advertising landscape as more and more advertisers embrace it with confidence. It may be a virtual marketplace but online is delivering real results. It's proven its worth and marketers are recognising its value."
Keegan said there remained ample room for growth. "For example, today automotive online advertising currently makes up just three percent of the total automotive advertising spend, with the balance of 97 percent spread across different mediums, We would expect this three percent share to continue to grow over the coming year."
The financial services sector continues to hold the lion's share of the general online advertising expenditure, with Government beginning to explore opportunities online.
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