The U.K. Office of Communications (Ofcom) announced recently that online advertising has now become the fourth-largest display advertising market in the U.K.
"The Report reveals striking evidence that a new ‘networked generation’ is turning away from television, radio and newspapers in favour of online services , including downloadable content – used on multiple devices such as iPods and mobile phones – and participation in online communities."
"Total online advertising revenues have increased almost eight-fold in real terms between 2001 and 2005 (from £0.17 billion to £1.3 billion per year). Online advertising revenue is now almost three times greater than radio advertising revenue (at around £0.5 billion, unchanged since 2001 in real terms) and over one-third that of television advertising revenue (£3.8 billion in 2005, up from £3.5 billion in 2001)."
Online display advertising is only behind newspapers, TV and direct mail in the U.K.
The conclusion of the report was that in the 16-24 demographic, they are moving away from the old media into the online world predominately. Like their counterparts in the U.S., they are using multiple devices and interacting in online communities as their major activities.
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