Internet advertising spend has overtaken radio, magazine and outdoor

Today’s The Age features the long anticipated report that Australia’s Internet advertising spend has overtaken radio, magazine and outdoor in terms of revenue earned and now sits behind television and newspapers. Revenue from Internet advertising grew 61.5% in 2006 to break through the A$1 billion mark and more than doubled over the previous two years, according to the Audit Bureau of Verification Services in its annual report.

According to The Age’s Graeme Philipson, one important aspect of Internet advertising is that its audience is much easier to measure. Television is maintaining its share of the advertising pie, but print is declining and I agree with Philipson that when more money is being spent online than in magazines, you know the world has changed.