The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers LLP (PwC) have announced that the Internet Advertising Revenues for Q3 2007 have exceeded USD 5.0 bn for the first time making it the highest grossing quarter ever.
More money has been spent this quarter than in the whole year of 1999.
Revenues for the first nine months of 2007 are up more than 25 percent, totalling USD 15.2bn compared to USD 12.1bn for the same period in 2006.
If the spending trend continues, Q3 2008 should see revenues in excess of USD 6.25 bn.
However, the industry tends to be cyclical and Internet Advertising Industry has had its lows and highs.
It nearly doubled in size between 1999 and 2000 before falling for three consecutive years and recovering only recently in 2004.
According to Randall Rothenberg, President and CEO of the IAB, The continued robust growth of the industry indicates that marketers increasingly understand and appreciate the benefits of interactive advertising and Marketers large and small have come to accept digital media as the fulcrum of any marketing strategy.