U.S. Internet ad revenues in the third quarter grew 22% over the same period in 2010, rising to $7.88 billion, according to the latest report by the Interactive Advertising Bureau (IAB) and PriceWaterhouse Coopers (PwC). The figures even showed a 2.7% rise over the second quarter of 2011, which was itself a record-setting period, according to the IAB.
The Q3 results mark the eighth consecutive quarter of year-over-year growth for the industry.
Randall Rothenberg, president and CEO of the IAB, said the new figures show that, despite the relatively soft economy, brand marketers are recognizing the growing importance of digital media in consumers’ lives, and are continuing to follow that trend by moving their marketing to digital.
The IAB-sponsored report is put together by PwC’s new media group, which gathers revenue data from web sites, commercial online services, free e-mail providers, and others selling online advertising. The IAB releases top-line numbers in the first and third quarters, and goes more in-depth in the second and fourth quarters.