Internet Ad Revenues Climb to $5.9 Billion in Q3
Internet advertising revenues neared $6 billion for the third quarter of 2008, representing an 11-percent increase over the same period a year ago according to the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers. The third-quarter figures were a 2-percent increase over the second quarter of this year.
"The growth of interactive advertising that we've been experiencing over the past few years has stabilized due in large part to the difficult current economic climate," said Randall Rothenberg, president and CEO of the IAB. "Interactive advertising continues to be the most measurable and cost-effective way to reach consumers, and we see more and more marketers seeking to harness its power."
The $5.9 billion in Internet ad revenues marks the second-largest quarter results ever. Through three quarters of 2008, revenues totaled $17.3 billion, up from $15.2 billion in the same period of 2007.
"A weakening economy will continue to be a challenge to all forms of advertising-supported media," said David Silverman, a partner at Pricewaterhouse Coopers. "However, the Internet should be better poised to withstand the storm given its ability to combine performance-based advertising along with broad-based branding."