The Week: Media news - UK online adspend grows

UK online advertising spend grew by 38 per cent in 2007 to hit £2.8 billion, and is set to overtake the £3.4 billion TV market next year, according to figures from the Internet Advertising Bureau and PricewaterhouseCoopers.

The popularity of social networking websites, cheap laptops, wireless connectivity and TV-on-demand were cited as key drivers behind the growth. Internet advertising now makes up a 15.3 per cent share of the total adspend market. Online display advertising increased by 31 per cent during the year, but search continued to dominate, growing by 39 per cent to £1.6 billion, a 57.6 per cent share of the total online market.

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