Swedish advertisers drawn online

Swedish advertisers are continuing to be drawn to the internet, with online ad sales expected to generate more money than television advertising for the first time next year. Mobile phone advertising is also growing at a rapid pace, according to the Swedish Institute for Advertising and Media Statistics (IRM).

Spending on internet advertising has grown by more than ten percent a year for several years. In the third quarter last year nearly a billion kronor was spent on online ads – meaning the internet had overtaken television for the first time.

Full-year figures for 2007 are expected to show television maintaining its position as the second largest recipient of advertising income after newspapers, but the internet is expected to race past TV in 2008. The total advertising market is expected to have a turnover of 33 billion kronor this year.

“The change that is going on is quite clear,” said Elisabeth Trotzig, CEO of IRM.

Mobile advertising is expected by many to be the next big growth market.

“I have great belief in mobile advertising. It’s a small medium, but it is growing,” said Peter Cederhold, head of interactive media at media buyer Carat.

Mobile marketing was worth just 30 million kronor in the first nine months of last year, but that represented growth of more than 200 percent since 2006, according to IRM.