The Internet Advertising Bureau’s new report into digital advertising spend in the UK, released today, shows that our industry is in rude health. As The Guardian pointed out in its coverage of the news, spending one in 12 waking minutes online has pushed digital spend to record highs.
Apart from revealing to us that advertisers have more money than ever to play with (the UK saw over 3 billion of digital ad spend in the first half of 2013) the report also illustrates how social media is increasingly becoming a prominent part of UK brands’ marketing mix.
Social media ad spend has grown 53%, reaching £242.5 million. In the last three years, social media spend has increased almost three-fold (285%).
According to the report, social networks and blogs alongside entertainment account for over one third of UK internet time. In addition to that, the UKCOM/comscore reveals that 12% of internet time (or one in every seven minutes to be exact) is spent on social networks.
The news in more depth is available here in the IAB’s press release, and the research in full is available to IAB subscribers here.