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The Interactive Advertising Bureau's latest figures show that online recruitment advertising was worth £121 million in 2004, up approximately 50% from £81 million in 2003.
Online recruitment advertising spend represents a significant part of all budget spent on online advertising (including product advertising such as paid for search listings, banners, sponsorships and email advertising). The entire online advertising market was valued at £653 million in 2004, up 60% from £408 million in 2003. This means that recruitment accounted for 19% of all money spent online in 2004.
Online recruitment had the third largest share of money spent online in 2004. The single largest element of all online advertising spend was accounted for by paid for search listings, for example through Overture and Google Adwords, which was worth £258 million; while the second largest share was banners / embedded ads which was worth £165 million.
Finally recruitment represented 75% of all online classified advertising spend (including cars, homes and personal ads) which was valued at £161 million in 2004.
These figures continue to illustrate the growth of online recruitment and the fact that more and more employers are taking advantage of the compelling benefits that recruiting online has to offer. The data also explains the increasing interest of main stream brands in the online recruitment market - illustrated effectively by the recent purchase of TopDogJobs by Friends Reunited.
The online advertising spend figures above are measured on behalf of the Interactive Advertising Bureau (http://www.iabuk.net/) (IAB) by PwC and are based on reported revenues by a wide range of media owners. In addition to producing online advertising spend figures the IAB also offers a range of really useful services and features including events, case studies, a jargon buster and links to other useful industry sites.
While not all online recruitment sites are included in the IAB's figures (meaning that actual online recruitment spend figures could be even higher) the figures are the most accurate measurement of the market available and show the continued growth and strength of the online recruitment industry in the UK.
This article has been provided by Tim Elkington of Enhance Media. He can be contacted on: