Wow! Even during these tough economic times, marketers turned on the spending for digital marketing. In their semi-annual report, Price Waterhouse Coopers and the Internet Advertising Bureau report that the industry grew to a record $14.9B in the first half of 2011.
The biggest budgets go to display advertising which is up 27% year over year. That category includes search, which is no surprise to all of you who are finding a lot of your budget is going to Adwords.
That still leaves a lot of budget ($3.4B) going to banners. Maybe it’s the new formats, or maybe it’s just that anything digital is a lot cheaper than off-line, but this result certainly runs contrary to those who think banners don’t work.
The other big story is video, marking an increase of 42% over last year and reaching total spending of $891M.
That’s not a surprise to us at ENGINEERING.com. Since launching a sponsored video offering early this year we’ve signed up a large number of customers who find that it cuts through the digital clutter to reach a highly engaged audience.