AUSTRALIA’S online advertising spend could hit a record $1 billion for 2006.
The Audit Bureau of Verification Services reports that the online advertising market grew 65.3% in the first quarter compared with the same period last year.
Online advertisers spent $195 million in the three months to March 31, 2006.
Most of it was outlaid in the booming Search and Directories area which had a 38.7% market share ($75 million) – 80% up over 2005.
Classifieds consumed 31.8% ($62 million), followed by general advertising with a 29.5% share ($57.5 million).
Interactive Advertising Bureau spokesperson Patty Keegan said: “We’re extremely pleased with the continuing growth in this sector which again, compares very favourably with traditional advertising categories as spending habits continue to shift.
"Of more importance is the fact that Q1 is traditionally the weakest quarter of the year and we’re therefore expecting this trend to continue.
"Growth of this magnitude throughout the year could lead to 2006 online expenditure approaching the $1 billion mark."