According to a recent study by the Interactive Advertising Bureau Southeast Asia (IAB) Singapore Chapter and Pricewaterhouse Coopers, online spend reached SG$64.6 million (US$49.4 million) last year, up from SG$51.3 million recorded 12 months prior.
This acceleration, which accounted for an approximate six per cent of ad spend online, doubled from 3.6 per cent in 2008, but remains well behind the ad spend figures of advanced markets like the UK, where it stands at 23 per cent.
The online ad billing reached SG$40 million in the first six months of 2010, with display accounting for half of online budgets, classifieds receiving 11 per cent and search at 39 per cent, almost solely responsible for driving up revenues and contributing nearly SG$7 million to year-on-year growth.
The sectors which have contributed to online ad spend include technology and telecoms delivering around 20 per cent of all online returns, followed by financial services with roughly 16 per cent, travel/leisure and government.
Online ad spend on the rise in Singapore : IAB
SINGAPORE - Online advertising expenditure in Singapore has seen a slow rise, mostly driven by telecoms and technology, but remains well behind the advanced markets of the UK and US.
