Although uncertainty continues to dominate many sectors of the U.S. economy, business is booming in online advertising.
The latest Internet Advertising Report from the Interactive Advertising Bureau (IAB) and Pricewaterhouse Coopers (PwC) shows that online advertising set a new record during the first quarter of 2012 at $8.4 billion.
The Q1 2012 advertising revenues represented a 15 percent ($1.1 billion) increase over the same reporting period in 2011, confirming the appeal of the Internet as an advertising medium.
"The year-over-year growth between Q1 2011 and Q1 2012 sets quite a milestone," said David Silverman, Partner, PwC U.S. "Moreover, a 15 percent increase over the comparable period in 2011 is a solid affirmation the internet is delivering on its promise to attract consumers and the advertising dollars that follow."
Data for the IAB Internet Advertising Revenue Report is compiled directly from companies that sell advertising online and includes online ad revenue from websites, commercial online services, free email providers and other web-based ad sellers.
The report doesn't include the amount businesses spend advertising on the web through the optimization of their business websites. These investments are a critical part of any online advertising effort because a quality business website is typically anchors a strong digital presence.
The increase in Internet advertising reflects the ongoing integration of technology into the everyday lives of consumers. In record numbers, consumers are turning to mobile, social and online technologies to perform a range of daily tasks.
"More online consumers than ever are taking to the Internet to inform and navigate their daily lives--by desktop, tablet or smartphone," said Randall Rothenberg, President and CEO, IAB. "Marketers and agencies are clearly--and wisely--investing dollars to reach digitally connected consumers."
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