Traditional brands boost online ads to record high

New Media Age, April, 2003 by Yinka Adegoke

Traditional advertisers and high street names have been responsible for boosting Internet advertising to a record high of [pounds sterling]196.7m in 2002, according to IAB/PricewaterhouseCoopers annual figures.

The IAB (Interactive Advertising Bureau) hailed the 18.7% year-on-year growth as a "wake-up call" for marketers who see their Web site as the end of their online presence.

The 2002 total spend figure also reveals that online's share of the ad market increased to 1.4% of total media spend, up from 1.2% in 2001. The IAB has set itself a target of 2% by autumn 2004. In Q4 of 2002, online's market share reached 1.7%.

IAB CEO Danny Meadows-Klue said the industry is now on target to take a larger share of marketing budgets as marketers' attitudes...