With a little extra data behind the release, the Interactive Advertising Bureau announced
that Internet advertising revenues reached $5.8 billion for the first quarter of 2008, an 18.2 percent increase over the same period in 2007
, and the amount represents the second highest of any quarter ever recorded. The all time record for quarterly Internet advertising spend is the recently reported 4th Qarter of 2007. It is safe to say that the record set in the last quarter of 2007 will most likely be surpassed within the next few quarters!
Randall Rothenberg, president and CEO of the IAB "We continue to experience significant growth and vitality in interactive marketing, media and advertising... (and) expect growth to continue, as... marketers find more and more innovative ways to reach them through digital media
David Silverman, partner, Assurance, PricewaterhouseCoopers "The fundamentals of interactive advertising spend continues to be positive and I would expect to see continued growth in the future.
" said "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
Internet Ad Revenues (annually, except 2008 1st Quarter)
Year - Ad Revenue (Millions $)
1997 - $907
1998 - $1,920
1999 - $4,621
2000 - $8,087
2001 - $7,134
2002 - $6,010
2003 - $7,267
2004 - $9,626
2005 - $12,542
2006 - $16,879
2007 - $21,206
2008 - (1st Q) $5,792
Translated into annual dollars, if the first quarter of 2008 is equal to the remaining 3 quarters, the total Internet Advertising spend for 2008 would come in at $23,168,000,000. That would bring 2008 in with almost $2 Billion in revenue growth, which may be unlikely due to worsening economic conditions. Whether or not the quarter is predictive of the remaining year, the growth over the same quarter in 2007 certainly puts the first quarter of 2008 into perspective.
Source: PwC/IAB Internet Advertising Revenue Report (www.iab.net), June 2008 (see below)
Internet advertising revenues reached $5.8 billion in the first quarter of 2008 - an 18.2% increase from the year-earlier period and the second-highest quarter recorded after the previous quarter’s record $5.9 billion, the Interactive Advertising Bureau (IAB) said.
“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,” said David Silverman, partner, Assurance, PricewaterhouseCoopers (PwC).
The New Media Group of PwC produced the “PwC/IAB Internet Advertising Revenue Report
” for the first quarter.
“The fundamentals of interactive advertising spend continues to be positive, and I would expect to see continued growth in the future,” Silverman said.
That sentiment was echoed by Randall Rothenberg, president and CEO of the IAB: “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.”
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