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by Stephen Logan on 18th January 2010
A new study has indicated that UK companies are setting higher budgets for their online marketing activities in 2010.
The Bellweather Report, which is produced by the Institute of Practitioners in Advertising (IPA) and accountancy group BDO, also found that the overall decline in advertising spend is beginning to slow down.
According to the findings, budgets for internet advertising have been revised up for the second consecutive quarter, suggesting that many firms could be seeking professional SEO services to help them make the most of post-recession opportunities.
IPA president Rory Sutherland said that the direct and digital marketing sectors appear to be "leading the recovery".
Andy Viner, head of media at BDO, added: "Marketing budgets in 2010 are now set to grow, with companies re-thinking their budget allocation.
"The spend in areas such as online advertising is due to increase significantly."
Jamie Estrin, managing director of Web TV Enterprise, recently predicted that the advertising revenue generated by online video content is set to grow this year as the consumption of this medium increases.