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A study conducted by the Association of Online Publishers (AOP) and Deloitte, released today, shows that advertising revenue for digital publishers is up 16.2 per cent year-on-year for the first quarter of 2013, with video being the biggest earner for respondents.

The study also showed that 100 per cent of AOP board member respondents expected further growth in digital advertising for the second quarter. These figures mirror predictions made in the annual AOP census, as reported by Journalism.co.uk in April.

"Year-on-year growth for Q1 2013 is double what we saw for the same quarter last year," Howard Davies, Deloitte media partner, said in a press release accompanying the study. "We're starting to see greater optimism across the market and the digital advertising industry continues to grow strongly as new formats become embedded."

Advertising revenue from video grew by 56.4 per cent year-on-year, more than four times that of display or sponsorship formats at 13.7 and 12.3 per cent respectively. Recruitment advertising increased by 11 per cent while other forms of classified advertising grew by 3.1 per cent.

Overall advertising figures grew for 66 per cent of respondents to the study, with business to consumer (B2C) publishers doubling growth figures on last year to 20 per cent. Business to business (B2B) growth dropped by two thirds however, to just 2.1 per cent, a change Davies attributed to a shift towards data-driven revenues in the sector.

Tim Cain, head of research and insight for the AOP, said in the press release: "Despite taking a fairly cautious view of growth earlier in the year, Q1 results actually indicate a strong upside for publishers. This has fuelled a more positive expectation for the coming 12 months. Both display formats and recruitment advertising have contributed to a strong Q1 performance."

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