Online advertising expenditure has grown for more than 80 percent of European advertisers this year, with most of the funding coming directly out of their print, TV or direct marketing budgets, a study by the European Interactive Advertising Association has found, Brand Republic reported Tuesday.

Meanwhile, 82 percent of advertisers in question decreased other types of advertising. Out of print, TV and digital marketing budgets, advertisers took 40 percent, 39 percent and 32 percent, respectively, according to the study.

Two years ago, 17 percent of advertisers thought of online ads as “essential,” according to Brand Republic. This year, the figure is 38 percent. Seventy-seven percent of advertisers consider online ads to have a “positive impact on the perception of their brand,” while 68 percent think they boost brand awareness.

Display ads account for 28 percent of ad expenditure, compared to 9 percent in 2006. Search and affiliate ads correspond to 35 percent and 25 percent of ad spend, respectively. Fifty-nine percent of advertisers said they would invest more in display, while 80 percent said they would be doing the same for search ads, according to the study, Brand Republic reported.

"This research shows that while other forms of media are suffering from slowing spend, online continues to take a growing proportion of advertising budgets as brands increasingly recognise its impact, value and potential ROI,” said Alison Fennah, executive director of the European Interactive Advertising Association.