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Budgets for internet advertising grew faster than those allocated to any other medium in the U.K. during Q2, according to latest industry figures. Some 21.8 percent of companies reported increasing their online marketing spend, according to the Institute for Professional Advertisers (IPA) latest Bellwether report. Marketing spend overall accelerated as a fifth of all companies allocated more budget to advertising, posting the strongest increase for seven years.
The net now makes up around six percent of all marketing spend, the IPA said, accounting for an estimated £2 ($4) billion annually – the highest proportion it’s ever recorded. Increases are due to strong sales and profits growth, especially in technology, travel and entertainment. (Via Brand Republic).