Driven by consumers’ continued
embrace of all things digital, domestic digital ad revenue hit $9.6 billion in the first quarter of the year.
The figure -- released by the Interactive Advertising Bureau and PwC U.S. on Monday -- represents a 15.6% increase over the $8.3 billion in ad revenue earned during the first quarter of 2012.
The year-over-year gain is particularly impressive considering the market has recently showed signs of maturing, said Sherrill Mane, senior vice president of research, analytics and measurement the IAB.
“Internet advertising revenue continues to exhibit double-digit growth, even as the business matures,” according to Mane. The Internet continues to shine amid a broader ad market, which some analysts expect will show little growth over the next year.
In fact, ZenithOptimedia recently projected global online ad spending to expand 14% annually through 2015.
“Display is the fastest-growing subcategory, with 20% annual growth, thanks partly to the rapid rise of online video and social media advertising, each of which are growing at about 30% a year,” Jonathan Barnard, ZenithOptimedia’s head of forecasting, wrote in an April report.
Better audience measurement data is also fueling confidence among marketers and agencies to spend online and in mobile, Barnard noted.
Pivotal Research Group analyst Brian Wieser also recently projected that digital will continue to outpace more traditional forms of advertising this year.