The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers LLP have announced that internet advertising revenues reached an estimated new record of $4.2 billion for the third quarter of 2006.
"The consistent growth of online advertising is a clear indication that marketers continue to embrace the true power of interactive advertising," says Sheryl Draizen, SVP, general manager, IAB. "Marketers are experiencing how this medium enhances their ability to target and engage the audience that matters to their brand and then measure its effectiveness in ways no other medium provides."
The report by the two companies also found that the 2006 Q3 revenues represent a 33 percent increase over $3.1 billion in Q3 2005.
"Interactive advertising, with its eighth consecutive quarter of growth and the largest single quarter ever, is on pace for its biggest year. This growth follows the trend of where consumers are spending their media time and the unique ability of interactive advertising to effectively target and monitor ad campaigns," says David Silverman, partner, assurance, PricewaterhouseCoopers.
Last month the IAB also announced the launch of the IAB Mobile Committee, which will set advertising standards for mobile ad platforms.