Internet ad revenue hits record high of $6.4B in Q3

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US Internet advertising revenue reached a record high of $6.4 billion in the third quarter, according to statistics from the Internet Advertising Bureau, a digital advertising industry group. Revenue was up 17% year-over-year in Q3.

Sherrill Mane, SVP of industry services at IAB, said Internet advertising is gaining share because marketers are getting high value from it as the economy stabilizes.

“Marketers are being cautious as to where and how they spend money,” she said. “They are investing where they will get the greatest value for their money.”

Internet advertising revenues for the first half of 2010 reached $12.1 billion, up 11.3% from the first half of 2009, according to numbers released by IAB and PricewaterhouseCoopers last month. That report identified search marketing as a key revenue driver, accounting for 47% of year-to-date revenues. Display advertising accounted for 36% of revenues, followed by classified (10%) and lead generation (5%), according to the October IAB report.

PricewaterhouseCoopers compiled the research from companies that sell Internet advertising, including data from websites, commercial online services and free e-mail providers. The IAB, which counts about 500 media and technology companies that sell 86% of Web advertising as members, sponsored the research.

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