The good times for internet based businesses continues. Online advertisers in New Zealand spent $135 million in 2007 according to a recently released IAB report. This might sound a lot, but it represents less than 6% of total ad spend. Online advertising exceeds 10% in countries like the US and the UK, so there’s potential for an increase in New Zealand. Besides, the online ‘media consumption’ for Kiwis is around 20% of the total according to the IAB report, which implies that online ad spend doesn’t yet match the new trends in consumer behavior. It’s therefore likely that 2008 will be another record breaking year for online advertising in New Zealand as advertisers realise that they can gain better ROI on their ad spend online.