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UK internet advertising market £2.8bn in 2007 and still growing fast

New IAB data reported in the FT today has the UK internet advertising market at £2.8bn in 2007 up 38% on 2006.

That is an incredible growth rate for a market this big.

The other piece of data reported is that internet advertising now accounts for 15% of total advertising.

That is well below the percentage of media consumed on the internet, which last I saw was at 30%+. Hence we can expect the market to continue to grow, and early signs are that internet advertising spend is standing up in the face of the current economic problems.

This market is made all the more exciting for me by the fact that despite the growth we have real issues to sort out – with poorly monetising social media inventory and declining effectiveness of display advertising to name but two.