U.S. Internet advertising revenues hit $6.4 billion in the third quarter of 2010, the highest quarterly result ever for the online advertising industry and a 17% increase from the same period in 2009.
That’s according to the Interactive Advertising Bureau in its new online advertising report.
PricewaterhouseCoopers compiles the data contained in the report, released twice a year. The Interactive Advertising Bureau comprises some 460 media and technology companies that it says are responsible for selling 86% of online advertising. The survey includes data about online ad revenues from websites, commercial online services, free e-mail providers and other companies selling online advertising.
“The Internet has transformed consumers’ lives and how they experience entertainment, information and brands,” stated the organization’s president/CEO, Randall Rothenberg. “Marketers have embraced digital media because that’s where they can engage with their consumers.” Internet advertising has created jobs and contributed to the nation’s economic growth, he said.
Advertisers are shifting more brand messaging online, according to David Silverman, a partner at PricewaterhouseCoopers. He said the trend signals “an accelerating shift” in consumer behavior towards the internet and away from traditional media.