This is an increase of $1.1 billion over the third quarter last year, and revenues were almost a full 3% higher than second quarter this year. The stack up of quarterly revenue has shown lofty goals being met and surpassed with $4.9 billion in Q1, $5.1 billion in Q2 and $5.2 billion in Q3 for a current collective total of $15.2 billion.
Last year at this time the total of ad revenues was $12.1 billion, this means that revenue has increased by 26% according to the IAB. Randall Rothenberg, president and CEO of the IAB stated “Marketers large and small have come to accept digital media as the fulcrum of any marketing strategy.”
Currently ad revenues are estimated to break $20 billion this year according to many analysts, proving that money really does grow on trees. Newer platforms that attract consumers specifically can claim most of the responsibility for this growth including broadband video, social media and rich online and mobile apps.
It’s the promise of targeting consumers online that’s driving money away from traditional media and online. With this capability the globe is not only getting smaller but the possibilities for advertisers are growing. This is also the number one reason for The Great Acquisition Frenzy of ’07, which stands to spill over well into 2008. Even though it is late fall, the revenue orchards are in full bloom and a deep hue of green.