Online ad revenues surpass magazines
According to the latest figures from Ofcom, Online advertising has overtaken business and consumer magazine ad revenues for the first time.
The UK online advertising market generated £1.3bn last year making it the fourth-largest display advertising medium in the UK behind newspapers, television and direct mail.
"Budgets are migrating from TV and print to online as advertisers are seeing better return on investment in online media that more traditional medium", said one advertising director we spoke to.
The report also reveals striking evidence that a new "networked generation" is turning away from television, radio, newspapers and magazines in favour of online websites and services such as Pocket-lint.
Sam Barton, an account manager at PMA Marketing said, "Pocket-Lint.co.uk has proven to be one of the best performing websites in terms of online sales for our client Toshiba. We will definitely use Pocket-Lint.co.uk again.”
Furthermore the report found that the more than 70% of 16-24-year-old internet users use social networking websites (compared to 41% of all UK internet users) and 37% of 18-24-year-olds have contributed to a blog or website message board like Pocket-lint's reader review section.
The report attributed the success of online over more traditional media following the rollout of broadband services in the UK. At the end of March 2006, 11.1 million of the UK's homes and small businesses had broadband internet connections; over eight million of these connections were via DSL, compared with five million a year previously.
If you want to be a part of the online advertising revolution please contact our advertising agency Monetise on +44 (0)20 7292 1253.