The World: Sydney - Online adspend hits $450m in 2008 third quarter

Advertisers have spent a record $450 million on online advertising in Australia in the third quarter of this year, according to new figures from the Interactive Advertising Bureau Australia.

The figures show that online has experienced a 30 per cent year-on-year growth for the quarter ending 30 September, with more than $100 million more spent by advertisers.

Of the three categories in online advertising, search and directories accounted for $212 million of the total adspend for the quarter, with general display totalling $125.5 million and classified accumulating $113.75 million.

However, despite the positive figures, the IAB has predicted a drop in revenue during the fourth quarter as the full impact of the global economic situation materialises.