A new survey out today shows substantial growth in online advertising. The survey, by PricewaterhouseCoopers and online advertising trade body IAB, reveals there was a 13.5% increase in spending on ads last year. The figure beat industry expectations

The survey valued the Irish online market for last year at €110m, up from €97m in 2009.

It said that advertising on social media sites and ad networks contributed to the growth of 'display' spending which has grown from 26.6% in 2009 to 31% in 2010.

Car ads is the top performing category, followed by advertising for recruitment and property. The survey also says there are more broadband connections and more time is being spent online.

'The growth in the Irish online audience and in their time spent consuming online media while other media are experiencing fragmenting audiences underlines the phenomenon of online's growing share of media budgets,' commented PricewaterhouseCooper's Bartley O'Connor.