The Australian online advertising market has recorded year-on-year growth of 14%, according to new figures from the Internet Advertising Bureau.
The IAB’s expenditure report, compiled by PricewaterhouseCoopers, shows that internet advertising expenditure for the first quarter ending 31 March reached $439.5 million – the largest first quarter result ever.
The result combined with the last half of 2008 reveal a 22% growth rate. But the industry has also been hit by the deteriorating economy, with performance dropping 5% from the fourth quarter of 2008 to this year’s first quarter.
IAB chief executive Paul Fisher says that the report reveals growing trust in internet advertising. “Much will be made of the decline in revenues from the fourth quarter, but it’s important to note that historically first quarter online advertising revenues are always either flat or lower than the fourth quarter in the online advertising industry,” he says.
“The fact that both the general display, and search and directories sectors experienced positive growth, and the classifieds sector saw only a minimal decline, is encouraging in the current climate.”
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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