Up, up, and away...online advertising revenue sets new record

Online advertising revenues hit $6.4 billion for the third quarter of 2010, according to the Interactive Advertising Bureau (IAB) and PwC.

This is the highest quarterly result ever for the online advertising industry and a 17% increase from the same period in 2009.

“The Internet has transformed consumers’ lives and how they experience entertainment, information and brands,” said Randall Rothenberg, President & CEO, IAB. “Marketers have embraced digital media because that’s where they can engage with their consumers. This vibrant, innovative industry is creating jobs and contributing to the growth of the U.S. economy.”

“Advertisers are shifting more of their brand messaging online, accounting for this welcome surge in a difficult economy,” said David Silverman, a partner at PwC. “This trend reflects the accelerating shift in consumer behavior towards the internet and away from traditional media.”

Source: Las Vegas TSG Business News

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