Online Ad Spending On Track To Break $20 Billion In 2007
Online advertising spending has increased $1.1 billion over last year’s first quarter, according to reports by the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC). Internet advertising revenues reached a record $4.9 billion in the first three months of 2007, a 26 percent increase over Q1 2006.
According to Sheryl Draizen, senior vice president and general manager for the IAB, “It’s what we’ve been seeing for awhile. We’re seeing increases in search, display, lead generation, in classifieds, we’re seeing increase across the board.” She added, “All pieces of interactive are really firing on all pistons.”
Advertisers are reassessing their entire budget not just dabbling in the interactive medium. Draizen said, “What were’ seeing is that marketers are clearly experiencing the effectiveness of the medium, so more and more dollars are being allocated to interactive as a whole. Marketers are also starting to understand that interactive is the only medium that can impact across purchasing funnel.”
In a related survey the IAB Europe found that approximately €8 billion had been spent on interactive advertising in the E.U. in 2006.
The report was compiled by collecting survey information on online advertising revenues from Web sites, commercial online services, free e-mail providers, and all other companies selling online advertising.
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