Bam! £2.8 billion is the whopping great figure representing the amount of money spent on internet advertising in the UK in 2007.

To put things into perspective, that is a 38% increase on the previous year showing a huge continued amount of growth on the medium. The internet now has a 15.3% share of the total amount of money spent on advertising in the UK and at this rate the internet will out grow television by 2010 according to the Internet Advertising Bureau UK and PwC.

This figure is huge but may initially be unsurprising given that the internet is now much more a part of our lives than any other medium. Think back to the start of the millennium and it's a different story, even a few years ago the medium was worth less than £1billion. 

The UK is very much leading in terms of market share and it has to be attributed to the fact that the UK is also leading in terms of quality online content and good business models to deliver value to advertisers. The likes of search and display marketing are the key drivers of growth after proving to be solid methods of advertising with measurability and high returns on investment.

All in all this is incredibly exciting, positive and reassuring news for anyone in the internet business, but even more so for online content producers. If you make online content you are incredibly likely to be using internet advertising to fund your project or draw attention to it.  These latest figures show that people have faith in UK content producers and are willing to shed hard cash to use it.

(Source: IAB/PwC online adspend figures for 2007)