US online advertising soars in first quarter: report

Industry group Interactive Advertising Bureau (IAB) reported on Thursday that US online ad revenue hit a record high $7.3 billion in the first three months of the year.

The amount of money spent on Internet advertising in the United States in the first quarter was 23 percent higher than the same period in 2010, a record-setting year when it came to online ad revenue.

"The consistent and considerable year-over-year growth we're seeing demonstrates that digital media is an increasingly popular destination for ad dollars, and for good reason," said IAB chief executive Randall Rothenberg.

"As Americans spend more time online for information and entertainment purposes, digital advertising and marketing has emerged as one of the most effective tools businesses have to attract and retain customers."

The online ad market has not only rebounded from the economic meltdown but is "growing with dynamic energy," according to David Silverman, a partner at PricewaterhouseCoopers which collaborated on the ad revenue report.

(c) 2011 AFP