US internet advertising revenues for the first six months of 2007 were nearly $10 billion, setting another new record and representing a nearly 27% increase over the first half of 2006, according to the latest figures from the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC).
US internet advertising revenue totaled nearly $5.1 billion for the second quarter of 2007, exceeding the $5 billion mark for the first time in a quarter, a 25.4% increase over the same period in 2006.
Randall Rothenberg, president and CEO of the IAB, said: “The torrid growth of interactive advertising revenue persists and these results are really no surprise but very welcome news.
“More and more marketers have embraced the reality that interactive is the fulcrum on which their brand strategies need to be based and we expect robust growth to continue.”
“The first six months of 2007 has continued the trend over the past several years of strong sequential growth,” said David Silverman, partner, Entertainment, Media & Communications Practice, PricewaterhouseCoopers. “The growth, which was led by strong increases in the consumer advertising sector, continues to point to the mainstream acceptance of the medium and advertisers’ continuing reliance on it.”
Pete Petrusky, director, Entertainment, Media & Communications Practice, PricewaterhouseCoopers, added: “The internet is well established as a key media distribution channel for driving advertising.
“The recent results demonstrate that advertisers recognize the continued growth in the online audience and the growing opportunity to target and monetise that audience.”
Last week, figures released by the Internet Advertising Bureau (IAB) revealed that UK internet advertising recorded above-expectation 41.3% year on year growth in the first half of 2007 (see UK Internet Advertising Records 41.3% Year On Year Growth).
A recent forecast from OPera Media predicted that continued strong increases from the online search and classified sectors will see UK total advertising spend increase by 3.3% this year (see UK Adspend To Increase By 3.3% In 2007).
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