Digital overtakes newspaper spend
by Carlos Menezes
The BBC recently published an article on its site stating that for the first time ever Internet advertising spend has overtaken the spend on newspaper ads.
The 41.2% surge in online ad spending quoted by the Internet Advertising Bureau made a mockery of the corresponding 0.2% growth on UK newspaper ads. Television advertising on the other hand fell by a not-so-healthy 4.7%.
41.2% growth in a year! That's sensational!! Ok, as the BBC reports the UK does have double the online ad market share than the global average so these numbers are not quite a universal phenomenon. The broadband climate in the UK in 2006 was in the perfect state for growth, and seemingly remains so today. However, one can easily imagine South Africa following a similar path in the not-too-distant future. If Neotel does ever make its long awaited heroic entrance into the South African market sometime within the next 20 years, local online ad spend would likely enjoy an increase in realms comparable to that of the UK.
With broadband penetration and general connectivity issues still being the bane of the South African online market, competitive prices and speeds are likely to create a surge not only in the number of subscribers but also in the richness of the subscribers' online experience.
As a result of its massive growth online advertising now has a, 11.4% market share, compared to the 10.7% held by papers. Despite its decrease, television is still the dominant monster in ad spending with 22% of the market share.
It must be noted that for marketers the Internet is still a relatively new beast. It's scary and enthralling at the same time, with a large number of intricacies that need to be explored and the potential for a cataclysmic blowback inherent in the medium, and while a high proportion of us are beginning to attack it ever more enthusiastically there are still a huge number of conservative marketers that are reluctant to utilise it for its full worth.
One feels that the UK market still has a lot of room left for growth, so whilst the 41.2% figure won't necessarily repeat itself you would still expect the online ad spend growth rate to far outstrip any other form of medium for quite a few years to come.
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