It was also no surprise that search still makes up the majority of spend - 57.8% - despite the fact that online video formats and rich media are causing a serious increase in display advertising online (Analysis, page 20). Video is starting to attract consumer goods firms to an online advertising arena that is still dominated by travel, finance and automotive.
There are those who argue that search shouldn't be categorised as advertising at all (Feature, page 24), but search spend does often come out of clients' advertising budgets - so really the rest is just semantics.
Big, bold advertising such as Marks & Spencer's turnaround campaigns last year that spanned TV, outdoor and other formats proves that traditional advertising still works if done properly. And the likes of ITV naturally argue that the value of hitting 13 million people on a Saturday night at the same time in an ad break for programmes such as Dancing on Ice is still the most powerful way to reach consumers - and that appointment-to-view television can't be replicated online.
This is true. But online can no longer be divorced from traditional media. Media owners, clients and agencies have to think in an integrated way. ITV and the other broadcasters are all ramping up their IPTV offerings and cosying up to clients directly to sell them bespoke, targeted advertising solutions. Indeed, online is driving media owners of all types closer to clients, as NatMags' chief executive Duncan Edwards tells Media Week TV this week (www.mediaweek.tv).
Brands increasingly want something beyond a plain display execution, and media owners have become frustrated with the skewing of what they consider they have to offer clients.
Media agencies are ahead of creative agencies in taking digital on board. But they must take care not to be cut out of the loop by media owners going direct to clients. Agencies need to cultivate both relationships carefully and structure their businesses to take advantage of the trend towards online, which, as the IAB report shows, isn't going to go away.