Global online ad market grew by 8.5% in Q4
While all the talk in recent years has been about how print advertising is plummeting as budgets are moved online, websites haven't exactly been coining it during the recession either.
But new figures from market researcher Strategy Analytics show that the global online advertising market grew by 8.5 percent, year-on-year, in Q4 2009, to $17.2 billion. The a lot of the growth has been attributed to a general loosening of advertiser purse strings, specifically with respect to experimental formats and the holiday season.Unfortunately, the online advertising market seems to be getting less competitive, with Google increasing its revenue share at the expense of competitors like Yahoo and Microsoft.
"Although the search advertising market continues to grow, most of the growth goes to Google and other local search leaders, such as Baidu and NHN," said Martin Olausson, director at Strategy Analytics. "Advertisers started to loosen their spending control valve on experimental ad formats in Q4, which led to the growth of new ad formats, such as online video ads, in this quarter."On the whole, there is a feeling of optimism around the online advertising.
Companies still have to market their products and perhaps, as they looked for cut-price alternatives during the recession, they've also been forced to acknowledge the limitations of social media. "The online advertising market has suffered badly in the past year but the worst has passed. We have a positive outlook for the coming years," said analyst Jia Wu.
IAB partners MySpace to scout for digital talent
The Internet Advertising Bureau – the trade body for online and mobile advertising – has partnered with MySpace to provide an online destination for young people keen to learn more about digital advertising.
This initiative forms part of the IAB’s aims to engage with students and graduates to ensure new entrants to the industry are equipped with the knowledge, insights and practical guidance necessary to make their mark in the digital world.
Featuring a range videos on advertising and creativity, educational materials for those new to online and a full events calendar, www.myspace.com/digitaltalent will also support the IAB’s University Roadshow which will be launched with their first visit to Bournemouth on 3 March.
Photos and commentary from the Roadshow will be made available on the page, which has been designed to spark an ongoing conversation with 16-24 year-olds in the UK, looking to enter the space.
To guarantee regularly refreshed content and further interaction, the IAB has enlisted a number of workers within the industry from agencies such as Mediacom and Mediaedge CIA to blog about their experiences and give advice about how to get ahead in online advertising.
In the coming months they will also be running a series of MySpace competitions, offering young people the chance to win work experience within many of the members of the IAB Talent Taskforce, and the winners will then be asked to blog about their time there.
Stuart Aitken, editorial manager of the Internet Advertising Bureau, said: “Young people outside of the industry are a brand new audience for the IAB, and it made perfect sense for us to engage with them in a ready-built community, and on their terms. The MySpace initiative is a big step for the IAB, and we intend to engage with our followers on a regular basis, providing inspirational content and real insights from those working at the heart of the industry.”
Simon Daglish, VP Commercial Director Of Fox Interactive Media, said: “We are delighted to be working with the IAB on this new initiative. It is important that we continue to attract the best creative talent to the media industry. MySpace is a valuable conduit between the media industry and a young, vibrant, 16-24 yr old engaged audience.”
