Online advertising grows in the U.K.

Online advertising spending grew 60% in 2003 from the previous year in the U.K. According to the BBC News, a new report by the Interactive Advertising Bureau (IAB) shows online ad spending in the country topped that of radio ad spending for the first time ever. Experts trace the rapid growth of online advertising in the U.K. to the increasing number of residential broadband connections appearing around the country. "There's a massive cultural shift going on forcing a change in consumer and advertiser behaviors," said IAB chief executive Guy Phillipson. The IAB predicts that online advertising will continue to grow in the coming years, soon surpassing dollars spent on outdoor ads.