A report from the Interactive Advertising Bureau (IAB) released this morning says $40 million was spent in online advertising in the third quarter of 2007, up 23% quarter on quarter.
Total adspend for the first three quarter of the year is slightly less than $100 million.
According to the report (pdf), display advertising was up close to 40% on the second quarter while search and directory spending was up 15.5%. Classified adspend was up 21.5% over Q2.
Mark Evans, CEO of IAB, says that the increase in spending is not a complete
“Q3 has always traditionally been to heaviest quarter for online spending in New Zealand, but we didn’t know until now how big it was," Evans says.
He predicts the fourth quarter will probably not be as high as the third.