The IAB reckons that UK revenues from online display ads — including video — grew by 16.3% YOY in 1H08. Add faster-growing online classfieds and search into the equation and the overall YOY growth rate for digital advertising emerges at 21%.

Good, eh? At the Guardian, a relatively breezy write-up by Mark Sweney carries the IAB’s suggestion that internet ad spend is “propping up” traditional media. (Ah, bless).

Sweney’s piece also includes the following quote from Dan Clays, who runs the digital ad agency BLM Quantum: