The figures suggest that while online advertising has grown by 4.6% to £1.752bn in the first half of 2009, TV advertising income has fallen by 16.1% to £1.639bn. Advertising overall fell by 16% in comparison to the same period in 2008 says the report.

The emergence of online advertising is no surprise to many, but the tough economic climate has seen a reduction in TV and traditional media advertising and accelerated the migration to digital online media says the report.

Online media such as websites, e mail campaigns and blogs have benefited as advertisers are able to focus their efforts on niche markets that already have an interest in the product being advertised.

Technology firms were the biggest spenders on online adverts, making up about 19% of the market, the report said, followed by telecoms firms, the finance sector and entertainment and media.

Guy Phillipson of the Internet Advertising Bureau said that online advertising such as banner advertising had “performed notably well against its peers in TV, print and radio.”

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