Brands spent more money advertising on the Internet in Britain than they did on TV for the first time in the first half of 2011, as companies moved online to reach the millions of Britons using social networks and watching videos.

The medium was boosted by 100 percent growth in online video ads, strong spending by companies in the fast moving consumer goods sector (FMCG), and campaigns designed for social media.

“The spectacular growth of video and social media powering brand display is key to online achieving a record share of 27 percent,” IAB Chief Executive Guy Phillipson said.

“FMCG advertisers were relatively late to the party, but now firmly established as the second highest-spending category, they clearly have all the proof they need to invest in line with the medium’s share, and enjoy healthy returns from cross-media campaigns.”

via Reuters