Australia's online ad market to be worth €338.9m in '08

Australia's online advertising market will grow to over €338.9 million (US$481 million) this year, according to a Frost & Sullivan forecast.

This is a 24% increase over last year's market value of €272.4 million (US$387 million), despite stagnation in the overall media market, the research firm said.

This slump had affected the online advertising industry. But the trend has reversed as the industry benefited from the shift in advertiser focus away from traditional media outlets and towards the internet.

Frost and Sullivan predicts that the market will continue to grow rapidly throughout 2009, and that in the near future integrated content and video advertising models will be one of the biggest growth areas.