U.S. advertisers invested $17.6 billion in digital advertising during the third quarter of 2016, according to the latest IAB Internet Advertising Revenue Report released Wednesday by the Interactive Advertising Bureau (IAB).
The findings in this report mark the highest third quarter for digital advertising spending on record and represent a 20% increase compared with the year-ago quarter. It also accounts for a 4.3% increase compared with Q2 2016.
PricewaterhouseCoopers U.S. prepared the report.
“The momentum of advertising in mobile, digital video, and other innovative formats is undeniable,” said David Doty, EVP and CMO, IAB, in a prepared statement. “These record-setting third quarter revenue figures reflect marketers’ trust in the internet’s power to connect with today’s audiences."
The IAB half yearly report released in November from the IAB stated that 2016 second-quarter revenue reached $2.6 billion, up 18.1% compared with the year-ago quarter and 6.6% higher than in the first quarter of 2016.
The Q3 2016 revenue is estimated based upon a representative sample of the overall survey respondents. The data is compiled directly from information supplied by companies selling advertising on the Internet.