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[ClickZ] U.K. Internet advertising budgets grew further in the fourth quarter of 2007 despite cutbacks in other channels, according to the latest Bellwether report from the Institute of Practitioners in Advertising (IPA).
The report states overall advertising budgets took bigger cuts in the final quarter of 2007 than at any time in the last two years, with 19 percent of companies reporting a decrease and only 15 percent an increase.
Spending in the digital arena remained strong however, with Internet budgets rising at more companies than in any other category. Thirty-nine percent of companies involved in the survey said they had revised their online budgets upward during the last three months of the year, with only 7 percent revising them down. Back in Q3 2007, only 30 percent of companies increased their online marketing budgets, with 7 percent seeing a decline.
All main sectors reported an average increase in digital spending. The strongest growth was recorded in the auto, fast moving consumer goods, travel & entertainment and government sectors. This diversion of budget towards digital now gives it a nine percent share of the total ad market, up from 6 percent reported in the Q3 report.
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