US ad revenue hits a new high

Online advertising revenue reached a new high in the first quarter of 2011, according to the IAB and Pricewaterhouse Coopers.

Internet ads for Q1 brought in $7.3 billion, up 23% year on year.

“The consistent and considerable year-over-year growth we’re seeing demonstrates that digital media is an increasingly popular destination for ad dollars, and for good reason,” said IAB chief executive Randall Rothenberg.

“These numbers indicate that the interactive advertising field hasn’t simply bounced back since the recession; it’s growing with dynamic energy,” added David Silverman, a partner at PwC.

Read the full article here.