On Monday, the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers LLP (PwC) announced that Internet advertising revenues topped $5.2 billion for Q3 2007, setting another record high. The figure represents a $1.1 billion increase, or 25.3 percent, vs. Q3 2006.
All three quarters in 2007 have hit new highs: Q1 at $4.9 billion, Q2 at $5.1 billion, and Q3 at $5.2 billion.
Revenues for the first nine months of 2007 totaled $15.2 billion, up nearly 26% from the same time period 2006.
"The continued robust growth of the industry indicates that marketers increasingly understand and appreciate the benefits of interactive advertising," said Randall Rothenberg, President and CEO of the IAB. "Marketers large and small have come to accept digital media as the fulcrum of any marketing strategy."
"Internet advertising revenues are on an annual run-rate exceeding $20 billion, further demonstrating the industry has truly come into its own," said Peter Petrusky, director, Entertainment, Media & Communications Practice, PricewaterhouseCoopers. "The emergence of new platforms, including broadband video, rich Internet applications, mobile, and social media promise to deliver new benefits for consumers, and create exciting new venues for marketers to realize value in digital media."
Source: PwC/IAB Internet Advertising Revenue Report (www.iab.net)
