Online advertising up 13.5%

UK internet advertising expenditure for the first six months of the year has shot up by 13.5%.

Figures from the Internet Advertising Bureau (IAB) show that online advertising in the UK is now worth £2.26 billion.

The IAB reports that display advertising grew by 18.5% year on year on a like for like basis to £510 million, representing a 23% share of online spend in the first half of 2011.

Although banners and embedded formats still dominate online display (£374 million or 73% share), video adverts doubled in size year on year to £45 million, giving it a 9% share of online display.

Paid-for search marketing rose 12.6% on a like for like basis to £1.3 billion, representing a share of 58% of online advertising.

Online classifieds grew 3% like for like to £385 million with a share of 17% of online advertising year on year (£379 million and a 19% share in the first half of 2010).

Finance is the top category spender in display advertising accounting for 16%, ahead of FMCG (fast moving consumer goods) on 15%, entertainment & media (12%), travel & transport (10%), and retail (10%).