Online Sets New Ad Record, Posts First $9 Billion Quarter
Continuing to break records, domestic online ad revenues reached $9.2 billion in the third quarter of the year, according to new data from the Interactive Advertising Bureau and PwC US.
Year-over-year, third-quarter ad revenues were up an impressive 18%; that's 6% better than the second quarter of 2012.
Driving growth is a fundamental behavioral shift on the part of online consumers, according to Randall Rothenberg, president and CEO of the IAB. “Consumers … are no longer passive, but are active participants in contemporary media online, through social media, and on-the-go with mobile," he said.
"Sustained growth in Internet ad revenue, despite economic headwinds, is a testament to the value marketers get from using digital media," adds Sherrill Mane, senior vice president of research, analytics and measurement at the IAB.
During the first half of 2012, online ad revenues climbed to an all-time high of $17 billion -- representing a 14% increase year-over-year.
During the first half of the year, mobile generated significant growth -- up 95% to $1.2 billion from $636 million in the comparable 2011 period.
Digital video saw an increase of 18% year-over-year, bringing just over $1 billion in revenue in the first half of the year compared to nearly $900 million in the first half of 2011.
Search revenues in the first half of the year totaled $8.1 billion -- up 19% from nearly $6.8 billion during the same period in 2011.
David Silverman, a partner at PricewaterhouseCoopers, said he expects digital advertising to continue its positive trajectory “with incredible momentum,” as it heads into the seasonally strong fourth quarter.