The credit crisis has hit the online and media industries as research shows that Internet advertising is facing a slowdown after five years of steady growth. Budget cuts and excess inventory are expected to push the market for online display advertising into decline in the third quarter according to research by Enders Analysis. Growth rates for the UK online advert market climbed to 18.5 per cent for 2008 to £3.3 billion (E4.18bn), against estimates of a 28 per cent increase on 2007. The momentum remains in ‘paid-for search’, the largest division of internet advertising, dominated by Google.

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