Online Advertising Remains Vibrant Despite Tough Economic Times
NEW YORK –(June 17, 2008) –The Interactive Advertising Bureau (IAB) today announced that Internet advertising revenues reached $5.8 billion for the first quarter of 2008. The 2008 first quarter revenues are an 18.2 percent increase over the same period in 2007, and represent the second highest quarter ever recorded, after Q4 2007’s $5.9 billion.
“We continue to experience significant growth and vitality in interactive marketing, media and advertising,” said 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.”
“The fundamentals of interactive advertising spend continues to be positive and I would expect to see continued growth in the future.” said David Silverman, partner, Assurance, PricewaterhouseCoopers “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.”
About the IAB:
Founded in 1996, the Interactive Advertising Bureau (www.iab.net) represents over 375 leading interactive companies that actively engage in and support the sale of interactive advertising. IAB members are responsible for selling over 86% of online advertising in the United States. On behalf of its members, the IAB is dedicated to the continuing growth of the interactive advertising marketplace, of interactive’s share of total marketing spend, and of its members’ share of total marketing spend. The IAB evaluates and recommends standards and practices, fields interactive effectiveness research, and educates marketers, agencies, and media companies, as well as the wider business community, about the value of interactive advertising.
Conducted by the New Media Group of PricewaterhouseCoopers, the Internet Advertising Revenue Report was launched in 1996 by the IAB, and aggregates data from all companies that report meaningful online advertising revenues. The results are considered the most accurate measurement of interactive advertising revenues with the data compiled directly from information supplied by companies selling advertising on the Internet. The survey includes data concerning online advertising revenues from Web sites, commercial online services, free e-mail providers, and all other companies selling online advertising. First and third quarter revenue reports are estimates, with the actual figures being released along with second and fourth quarter data respectively. PwC does not audit the information and provides no opinion or other form of assurance with respect to the information.
The IAB sponsors the Internet Advertising Revenue Report, which is conducted independently by the New Media Group of PwC. The full report is issued twice yearly for full and half-year data, and top-line quarterly figures are issued for the first and third quarters.
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About PricewaterhouseCoopers:
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 146,000 people in 150 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.
PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP or, as the context requires, the PricewaterhouseCoopers global network or other member firms of the network, each of which is a separate and independent legal entity.
