The amount of money spent on internet marketing in the UK rose by 17 per cent last year to reach £3.3 billion, according to new figures.

In its latest advertising expenditure study, the Internet Advertising Bureau (IAB) found that web marketing was the only medium to experience growth in 2008.

Total UK advertising spend dropped by 3.5 per cent to £17.5 billion.

Internet marketing overtook press advertising in the second half of the year with a 19.8 per cent share of the market.

The IAB found that £1 of every £5 spent on advertising is now spent on the web.

Guy Phillipson, the organisation’s chief executive, said: "UK advertisers have become digital savvy and they’re now using rich media, ad networks and search in intelligent ways to achieve their sales and brand targets."

Last month, Jack Wallington, chair of the IAB’s Search Council, predicted that marketing spend will continue to shift to the internet in the months and years ahead.

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