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Internet overtakes TV as the biggest advertising sector in the UK

Well, it had to happen. Now the next milestoni is when will this happen in United States. As I said in my resent presentation TV is no a brand maker any more. I believe that future brands will be built on social networks with direct communication.

UK advertisers spent £1.75bn on internet advertising in the six months to the end of June, a 4.6% year-on-year increase, according to a report by the Internet Advertising Bureau and PricewaterhouseCoopers. To put this in perspective, in 1998, when the IAB first measured internet advertising, just £19.4m was spent online. The internet now accounts for 23.5% of all advertising money spent in the UK, while TV ad spend accounts for 21.9% of marketing budgets.

via Internet overtakes television to become biggest advertising sector in the UK. The Guardian .

WPP’s Martin Sorrell on marketing

“We know that consumers spend 20 per cent of their time online – we also know that our clients only spend 12-13 per cent of their budget worldwide online, that’s a disconnect that has to be eradicated,” says Sorrell, speaking recently at an American Chamber of Commerce luncheon in Singapore. “And in our view, it will be eradicated, let’s say, over the next five years or so.”

Furthermore, surveys have found that client companies prize, above all, insights about consumers, which in turn drive the value of quantitatively-measurable products and services.

For these reasons, Sorrell says he wants quantitative businesses (such as direct marketing, digital and interactive media, and consumer insight) to make up at least half of future revenues.

via Business success; WPP’s Sir Martin Sorrell.