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Online advertising grows in NZ

Interactive Advertising Bureau NZ figures, compiled by PriceWaterHouseCoopers, total online Advertising spend in New Zealand for 2010 amounted to $257.46 million up 19.65% from 2009's $213.89 million, according to the National Business Review quoting figures compiled by PriceWaterHouseCoopers from Interactive Advertising Bureau (IABNZ).

The result puts online in the same neighbourhood as radio (total 2009 spend: $236 million) and magazines (2009: $217 million).

2010 figures for radio and newspapers are not due to be released until March 17, but with old media struggling to bounce-back from the recession, it seems likely that web advertising has already pulled ahead.

There's still some distance to chase down television ($647 million in 2009) and newspapers ($760 million in 2009).

For the first time, Display surpassed Search & Directories with year-on-year growth of 23.09%, thanks to the rise of internet video and social media advertising.

Display advertising is now the fastest-growing internet category.

Liz Fraser, IABNZ Chair says the recovery of online ad spend in 2010 was significant, with all three segments showing increases year-on-year in double digits.

Cracking the milestone of total online ad spend over the $250 million mark puts this industry in line to surpass radio and magazines in 2010.

--Source National Business Review