…and the PPC and banner ad crowd goes wild! The IAB has announced that Internet Advertising Revenues are up over 18% year over year, or $5.8 Billion smackaroos for the first quarter of 2008. That’s just off the pace of the $5.9 Billion record set in Q4 ’07.
Source: (excluding Borat) PwC/IAB Internet Advertising Revenue Report (www.iab.net)
The really good news for internet marketers? Growth is expected to continue. Just listen to what Randall Rothenberg, president and CEO of the IAB and Daniel Silverman, partner, Assurance, PricewaterhouseCoopers have to say, respectively:
“We continue to experience significant growth and vitality in interactive marketing, media and advertising. We expect growth to continue, as consumers spend more and more time online, and marketers find more – and more innovative – ways to reach them through digital media.”
“The fundamentals of interactive advertising spend continues to be positive and I would expect to see continued growth in the future. The cyclical fourth quarter to first quarter drop in traditional media advertising spend, combined with an overall economic slowdown, resulted in a not so unexpected first quarter slowdown in the growth of online advertising.”
IAB results are considered the most accurate measurement of interactive advertising revenues. Data is compiled directly from information supplied by companies selling advertising on the Internet. Surveys include data relative to online advertising revenues from Web sites, commercial online services, free e-mail providers, and all other companies selling online advertising. In other words – you can take this information to the bank.
The Bottom Line? Internet advertsising is probably the single most cost effective means of advertising available today and companies continue to up their budgets to capitalize.
Hmmm….no wonder Andy Beal is taking so much vacation lately. This might be a good time to thank all of the wonderful Marketing Pilgrim sponsors. Thank you sponsors!