Amidst the Cuts, UK Spend on Social Media Soars
Like the rest of the country, I’ve been watching today’s ‘Spending Review’ announcement with great interest and although the general view seems to be that the cuts weren’t quite as bad as expected, £81bn has been axed from public spending over the next four years.
It’s with relief that I read some good news for a change…online ad spend in the UK has increased by 10% year on year. IAB UK has recently published the new online ad spend figures and they show that nearly one quarter of the total UK advertising market is now spent online.
Other highlights from the IAB report are:
- UK online ad spend for the first half of 2010 measured £1,968.6 million.
- Online ad spend hit another new record, earning digital a market share of 24.3%.
- Over same period, total UK ad spend (across all media) rose 6.3% to £8.1 billion.
- Advertising on social media sites account for an estimated 13% of all online display advertising.
- How much of this was social media spend? Well Social Media Influence calculate that it amounts to £43.4 million, taking 13% of display ad total (£334.6 million in H1 2010).
And Amy Kean, one of the Authors of the report believes the social media contriubtion may be understated as she comments on the IAB blog.
Posted in: Communications, Social Media
