Online advertising spending in the US hit $2.3 billion this quarter, growing at six time the rate of the overall US advertising economy, says a new report from PriceWaterhouseCoopers and the Interactive Advertising Bureau (IAB).
During quarter one 2004, online emerged as the fastest growing segment of the US advertising industry, setting a new record.
Since the beginning of 2003, online advertising revenue has grown by 38.9% and is up 3.9% on the previous quarter.
President and chief executive of IAB said: “Clearly, we’re thrilled with the numbers. However, they are just one side of an enormously compelling story. The last two years have offered marketers the opportunity to collect research and data that proves, beyond a shadow of a doubt, internet advertising accomplishes key marketing goals as well, if not better, than any other ad medium. The proof is in the results.”
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