The IAB has announced figures showing that the value of affiliate marketing grew to £72.six million in 2009, up by 38.two per cent on 2008.

These impressive figures show that affiliate marketing continues to play a vital role in the growth of overall online advertising spend. The findings also showed that paid search rose by nine.five per cent in 2009 to hit £2.15 billion, 60.seven per cent of complete online advertising spend. In addition, online video spend grew by a whopping 140 per cent on 2008, generating £28.three million last year.

The chief executive officer of the IAB, Guy Phillipson, commented: "In 2009 the advertising industry was hit hard but online has proved itself a winning medium, capturing a greater share of marketing budgets."

With the UK now coming out of recession, he was positive about the future: "In the past year we’ve seen some real success stories as search passed the £2 billion mark, and online video advertising experienced spectacular growth." He added: "And with sectors such as Retail and Consumer Goods increasing their spending on the internet we can look forward to a healthier 2010.”

The IAB report also showed that internet advertising increased by a huge two,200 per cent during the noughties.