Could this be a harbinger of ad spending in the U.S.? Might the turbo-engine of online advertising demand similarly roar past the seemingly poky steam engine of U.S. television advertising? The short answer is that it won't happen anytime soon, although that's not to say it won't occur at some point.
That's because the U.K. television market is relatively small compared to ad spending on U.S. television. According to figures from Magna Global, total U.S. television spending should total $47.7 billion this year. And online ad spending? A little less than half of that, at $23 billion in spending.
As Advertising Age points out, the British television market has some quirks that helped it reach this milestone. For one, its largest television network, the BBC, doesn't take advertisements. Still, the U.K., like the U.S., has also been hit hard by the recession, prompting advertisers to examine the effectiveness of every dollar they spend. The result has been that many decided online advertising is able to offer more through techniques such as behavioral targeting.
According to PricewaterhouseCoopers' online advertising expert Eva Berg-Winters, that means "measurability in a period of instability."