The Interactive Advertising Bureau of New Zealand (IABNZ) has said that online advertising spend has seen healthy growth in Q1, 2010.
According to the report, total spend for the first quarter was $53.32m, up 12.31% from Q1, 2009 ($49.26m).
Michael Gregg, IABNZ Chairman, said: "The latest figures provided by IAB members show strong year-on-year growth of 12.31% across all Display, Classified and Search categories. Display and Classifieds have rebounded from the softening effect of last year's recession to record lifts of 15.27% and 16.74% respectively.
“The seasonal summer holiday quarter-on-quarter drop in display was 2% less than in 2009, demonstrating the structural shift of media moving online. Additionally, as calculated by the Advertising Standards Authority (ASA ) earlier this year, online advertising is now over 10% of all domestic media spend, with all other media reporting declines in 2009."
PricewaterhouseCoopers partner Chris Perree added that the 'buzz' around the online advertising industry continues to grow.
“We are noticing more knowledge sharing within the industry, and insights into what works well,” he said. “It is encouraging to see how business decisions and the approach to online spend are changing. These insights translate into greater investment in the industry. The consistent growth in the total market year-on-year highlights the increased support for the industry. Breaking the 10% market share in 2009 for total advertising market spend paves a positive path for the year ahead."