Internet advertising revenues in the US hit $5.8 billion for the first quarter of 2008 reflecting a 18.2 % increase on the same period in 2007.
Source: PwC/IAB Internet Advertising Revenue Report (www.iab.net)
“We continue to experience significant growth and vitality in interactive marketing, media and advertising,” said Randall Rothenberg, president and CEO of the IAB. “We expect growth to continue, as consumers spend more and more time online, and marketers find more – and more innovative – ways to reach them through digital media.”
The growth of advertising networks and recognition of better ROI metrics associated with the online channel, are no doubt fuelling this rise in digital spend.
The challenge for both brands and advertising agencies is to make sure this investment is used to develop engaging experiences.