Internet increases its share of advertising market to 10pc
INTERNET advertising is now worth about 10pc of the overall advertising market in Ireland, according to a new survey.
A study carried out by IAB Ireland, the trade association for the online advertising industry and PricewaterhouseCoopers (PwC) found that online advertising spending reached €97.2m last year. The total Irish advertising market is estimated to have been worth €940m in 2009.
Advertising tied to search engines accounted for 46.2pc of total online spending which was broadly in line with the European average. Classified and display adverts achieved a 27.2pc and 26.6pc share respectively.
Motor advertisers spent nearly €20m online, while recruitment and property companies took up 25pc of the overall spend.
Bartley O'Connor, senior manager with PwC Consulting, said the news reflected the anecdotal evidence of growth in online advertising.
"In Ireland, it has overtaken outdoor, magazine and cinema advertising reflecting online's move to centre stage. As it continues to grow and develop as a platform for entertainment, information and communication for Irish users, so too will the advertising revenues it will attract."
Suzanne McElligott, chief executive of IAB Ireland, said: "Around the world a 10pc market share for online has tended to indicate a critical mass had been reached and suggests the online market share will grow quickly.
"This benchmark study provides great confidence for future growth of the medium.''