Online advertising on the up

Online advertising budgets neared the £2 billion mark in the first half of the year.

Research from the Internet Advertising Bureau (IAB) revealed that electronic ad spend grew by 10 per cent in the first two quarters of 2010.

The rise was fuelled in part by a rise in video and social network marketing.

The increase took online advertising to an overall market share of 24.3 per cent of UK ad expenditure.

Guy Phillipson, chief executive of the IAB, said: "The return to double digit growth in UK online advertising is characterised by increased investment by major brands, particularly in fast moving consumer goods and entertainment.

"The effectiveness of social and video ads for classic brand building is reflected in these formats enjoying exponential growth."