Here’s one story that makes at least one major search engine happy: the IAB announced yesterday that online advertising revenues continue to climb, setting a new record in Q3: $5.2 billion. This number is up 25% over the same period last year.
Online ad revenues have risen all year: in Q1, they were at $4.9B and $5.1 in Q2. Each of these record-setting periods has contributed to increasing the total year-to-date by 26% over this time last year (YTD). This also means we’re on course for the first $20+ billion dollar year.
eMarketer reports that this development is chiseling away at offline media’s budget share: they project that 7.4% of advertising dollars this year will go to online media. They report that television, newspapers and radio have taken the hit the hardest: all those media have lost their share of advertising dollar spent (comparing Jan-Jun 2007 to Jan-Jun 2006).