According to BBC News, studies by the Internet Advertising Bureau(IAB) show that UK online ad values could surpass the £1bn mark in 2005. Online advertising revenue increased 62% to £490m for the first half of 2005. The studies further show that online advertising accounts for 5.8% of overall advertising expenditure in the UK. They attribute the large growth to faster connections.
Paul Pilkington of PricewaterhouseCoopers says:
The growth in online advertising is showing no sign of slowing down… The internet is an exceptional medium in that it now acts as a source of entertainment, information and communication for the majority of the UK population. Advertisers are realising this and allocating their budgets accordingly.