Report: U.S. Web Ad Revenues Up 11% to Record $23.4B in '08

Authored by Mark Hefflinger on March 31, 2009 - 10:08am.

New York - U.S. Internet ad revenues grew 11% to reach a record high of $23.4 billion in 2008, even growing 2.6% to $6.1 billion in the fourth quarter, according to a report from the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers. The revenue figure marks the fifth consecutive year of record results.

Search advertising was the main driver of revenue growth, up 19.8% from 2007 to $10.6 billion; revenue from display advertising grew 8%, to $7.6 billion.

The emerging format of digital video advertising more than doubled its revenue from 2007, to $734 million.

"In this uncertain economy, where marketers know they need to do more with less, interactive advertising provides the tools for them to build deep, engaging relationships with consumers -- the experience marketers gain from this will deliver dividends especially after the economy turns around," said IAB president and CEO Randall Rothenberg.

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http://tech.yahoo.com/news/ap/20090330/ap_on_hi_te/tec_online_advertising_2