Online Ad Revenue Up 11%
Posted on November 21st, 2008 by Mike Sachoff in the Articles section
The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers has announced that Internet advertising revenues reached almost $5.9 billion for the third quarter of 2008, representing an 11 percent increase over the same period in 2007.
The Q3 2008 figures are 2 percent higher than the Q2 results. Set against economic challenges in the U.S. economy, Q3’s $5.9 billion represents the second highest quarter results ever, which is encouraging for online advertising.
For the first nine months of 2008, revenues totaled $17.3 billion, up from the $15.2 billion in the same period a year ago and surpassing the record set in the first nine months of 2007 by nearly 14 percent.
“The growth of interactive advertising that we’ve been experiencing over the past few years has stabilized due in large part to the difficult current economic climate,” said Randall Rothenberg, President and CEO of the IAB.
“Interactive advertising continues to be the most measurable and cost-effective way to reach consumers, and we see more and more marketers seeking to harness its power.”
David Silverman, a partner at PricewaterhouseCoopers LLP, added that, “a weakening economy will continue to be a challenge to all forms of advertising-supported media. However, the Internet should be better poised to withstand the storm given its ability to combine performance-based advertising along with broad-based branding.”