Mike Shields
JUNE 06, 2007 -
Online advertising’s hot streak continues to roll on, as the industry started off this year with yet another record ad revenue quarter.
During the first quarter of 2007, Internet advertising revenues hit $4.9 billion, up slightly from the previous record set just in the fourth quarter of last year ($4.8 billion) while representing a healthy 26 percent increase versus the same quarter last year, according to the latest figures released by the Interactive Advertising Bureau and PricewaterhouseCooper. Just a few weeks ago, the two partner organizations announced final revenue figures for 2006 that highlighted the growing strength of the online ad market, as revenues surged 35 percent for the year, totaling at $16.9 billion.
Officials at both firms predict that these spending trends should continue, particularly as broadband connections become more pervasive and advertisers continue to gravitate to more dynamic Web ad formats. “The recent results are particularly impressive when the size of the advertising revenue base is taken into account,” said Peter Petrusky, director, PricewaterhouseCoopers. “Given these results, we may expect continued strong revenue growth buoyed by an expanding broadband subscriber base, which could translate into more users spending more time online and offers a platform for rich media and video ads that dial-up connections can’t render.”
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