Investments in online ads increased to 12.8 million euro in 2007 and to 9 million euro in the first half of 2008, a IAB Romania, the association of the online ads industry, and a PricewaterhouseCoopers Romania study reveals.

On Wednesday, a summary of the joint study was released, the first of its kind in Romania, as the measure of the market was usually supplied by various actors on the market. The value of the market, identified in the report, is higher than estimated before.

The Romanian Advertising Study shows that in 2007 the online market in Romania amounted to revenues of 12.8 million euro, according to the profits announced by the most important 11 companies in the field, by independent publishers, representing some 700 websites.

IAB Romania president Ovidiu Florea declared that the study offers for the first time in Romania real numbers, based on effective sales of the biggest companies in the industry, instead of estimations that circulated in the market.

At her turn, PwC Romania marketing and business development director Ruxandra Bandila declared that the study is a premiere in the local research market and added that the company used a globally renowned methodology. She said that the methodology has been used for over 10 years now in Western countries.

The main goal of the study is to offer an objective estimation of the value of the online ads market.