Online advertising on the up and up

Steve Wadsworth, the new chairman of the Interactive Advertising Bureau (IAB), has predicted another triumphant year for the industry in 2004.

"I have a positive, robust vision for the growth and long-term future of advertising on the internet," he told dotJournalism.

"2004 should see significant growth in broadband advertising – such as video and rich media - as broadband penetration continues to build momentum and broadband creative solutions develop."

2003 was a very successful year for the industry, as traditional advertisers began to embrace the internet and confidence in the effectiveness of online advertising increased.

"The significant boost in online advertising spending was driven by the recognition that more people are spending their time online and more people are transacting on the internet," Mr Wadsworth told dotJournalism.

"The internet has proved to be a very effective and flexible advertising medium.

"Advertisers and agencies need to look to new opportunities like the internet to maximize the value of advertising dollars."

The Interactive Advertising Bureau was established in 1996 and is designed to help media companies increase their revenue through advertising. Members companies include many of the US' biggest internet firms, including AOL, MSN and Google, amongst others.

Mr Wadsworth began working in the industry in 1995 when the Walt Disney Internet Group first created its online business, and is now president of the group. Together with IAB president Greg Stuart, Mr Wadsworth will work closely with industry leaders to identify ways to make the internet even more compelling to the advertising market.

2004 has been billed as the 'Year of the Creative' by IAB. They plan a series of initiatives designed to attract more advertisers and agencies by promoting the creative flexibility of the web.

The interactive elements of the web, as well as animation, video, audio and the possibilities for targeting specific audience group, all present enormous potential for advertisers.

"This year the industry will see the introduction of consistent measurement tools for measuring the effectiveness of interactive advertising, as well as tools for planning ad purchases," said Mr Wadsworth.

"There will also be more research to better define and highlight the effectiveness of interactive advertising – all with an eye toward accelerated growth."

See also:
http://www.iab.net
http://www.wdig.com

Steve Wadsworth biography: http://disney.go.com/corporate/press/wdig/about/bios/wadsworth.html

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