The revenue of the online advertising industry in Vietnam reached 278 billion dong in 2009, equivalent to $15.5 million, according a market research firm, Cimigo.

“Vietnam’s infant online advertising market grew 71 percent in 2009,” reported Cimigo’s Lukas Mira.

This is the first time a report on online advertising in Vietnam has been released. Cimigo measured data on income from websites and networks, media agents and companies using online advertising services. Data was collected from online advertising service providers and their report analyses revenues in each business category.

According to Cimigo, online advertising in Vietnam is not developing at the same pace as the development of the Internet. Online advertising accounts for a small part in the total advertising investment. The revenue from online advertising in Vietnam is lower than that of some neighboring countries and Vietnamese advertisers spend only 50 cents for access to Internet users per year, while the figure is 15 times higher in China.

“Over half of Vietnam’s population use Internet and they spend over two hours a day on average to surf the net,” estimated Mira. “However, advertisers still doubt the effectiveness of this channel of information.”

The growth of online advertising in Vietnam last year, according to Cimigo’s research, is better than the common situation in the world. According to AFP, revenues from online advertising in the US felt by 11 percent in 2009 to $2.74 billion.

The Financial Times revealed that global advertising revenues in 2010 may grow by 2.9 percent and 4 percent in 2011. Global online advertising is expected to grow at two-digit speed in 2010.

Established in HCM City in 2003, Cimigo is a group of independent experts on marketing research. With 200 members, Cimigo operates in many countries in the Asia-Pacific region.

Source: VNN