Internet becomes biggest ad market in the UK
For the first time in a major economy, the internet sector in the UK's advertising market has overtaken the TV sector. It's a significant milestone for both the burgeoning web economy and the the faltering TV medium.
UK advertisers spent £1.75 billion on web advertising in the first half of 2009 - 4.6% more than the same time last year - according to the Internet Advertising Bureau and PricewaterhouseCoopers. The web now accounts for 23.5% of advertising money spent in the UK - compared to 21.9% for television.
It was originally forecast that the milestone would be passed towards the end of the year, but TV ad spend has plummeted as a result of the recession, dropping 17% on last year's figures. It's now worth £1.6 billion.
The UK is not the first country where this has happened - a similar watershed was met in Denmark six months ago. However analysts are saying that this is more siginificant in the UK, as it has a considerably larger economy.