Singapore, Jul 23 (IANS): The online advertisement spending in Singapore surged to 135.9 million Singapore dollars ($107.9 million) last year, crossing the 100 million Singapore dollars mark for the first time, according to a report.
The report commissioned by the Media Development Authority and the Interactive Advertising Bureau Southeast Asia (IAB) Singapore chapter and compiled by PricewaterhouseCoopers said the financial services sector led the online advertisement spending with 11.5 million Singapore dollars, daily Today reported Monday.
It was followed by the 11.4 million Singapore dollars of online advertisement spending by the travel and leisure sector, and 10.3 million Singapore dollars by the technology and telecommunications sector, reported Xinhua.
The spending of the government and public sector also surged by 74 percent.
The online advertisement revenue for the second half was 75.6 million Singapore dollars, up 25 percent from 60.3 percent in the first half.
"This is a watershed moment. It is the first time the revenue has moved out of the double digits and crossed 100 million Singapore dollars since we set out to measure online advertising spend three years ago," said Loren Shuster, chairperson of IAB Singapore.