By: E&P Staff
The Interactive Advertising Bureau (IAB) reported that in Q3 Internet advertising revenue increased 11% to $5.9 billion compared to the same quarter last year. The organization said that the revenues in Q3 represented the second highest quarter since 2000.
PricewaterhouseCoopers conducted the survey on behalf of the IAB.
That said, the IAB warned that online ad revenue growth is slowing. Sequentially, Q3 was up only 2% more than Q2 results.
“The growth of interactive advertising that we’ve been experiencing over the past few years has stabilized due in large part to the difficult economic climate,” Randall Rothenberg, president and CEO of the IAB, said in a statement.
David Silverman, a partner with PricewaterhouseCoopers said the flagging economy will challenge all forms of media though Internet advertising is expected to hold up better “given its ability to combine performance-based advertising along with broad-based branding.
Two weeks ago, Borrell Associates released its 2009 Interactive media forecast
and severely cut its growth estimates for the next year for local interactive spending.
The research firm expects local interactive media spending to increase 7.8% compared to 47% this year.