IAB Ireland and PwC have valued the Irish online advertising market at €110m up from €97m in 2009. This shows a year-on-year growth rate of 13.5%.
All the online advertising formats studied saw increases. Display spend, grew from 26.6% in 2009 to 31% in 2010 while classified ads and paid-search ads now represent 25% and 44% respectively of total online adspend. This latest report confirms what most in Irish media and marketing know – media consumption patterns are moving online and advertisers are following the eyeballs. The average hours spent online each week increased from 13.2 (ComReg) in 2009 to 19.1 hours per week in 2010 (Red C).
The total number of broadband connections (fixed and mobile) grew from 1,861,242 in 2009 to 2,163,642 in 2010, representing a 16.3% year-on-year increase. (ComReg’s Trend Unit, Comstat.ie).
78% of the participants in the IAB PwC online adspend study anticipated “growth” or “strong growth” in the next 6 months. Figures relating to money spent on mobile marketing were not part of this study, however, the IAB says will be part of its next study.