Yesterday, I joined the Interactive Advertising Bureau. Today, they released the press release. The two were not related!
The inaugural Interactive Advertising Bureau Insight report prepared by the IAB and PricewaterhouseCoopers, showed that online advertising spending in New Zealand in the first half of 2007 was $57.6 million. The report gathered revenue information from 27 media companies, representing dozens of websites, and is the largest study of its kind in New Zealand.
Online advertising expenditure in New Zealand is therefore much bigger than previously thought and accounts for about 5 per cent of total advertising spending, according to the survey.
This is certainly an improvement on previous estimates, but New Zealand still lags far behind other countries in terms of online advertising spend. In the UK, online advertising accounts for almost 15% of total ad spend. But the news from this survey is positive.
I am looking forward to attending IAB functions and meetings in the future. It will be good to engage directly with the New Zealand Interactive Advertising community. Even if it does mean spending yet more time in Auckland......
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