Internet Ad Revenues Soar 23 Percent in Q1

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Spending on online advertising in the U.S. reached $7.3 billion during the first three months of the year, representing 23 percent growth on a year-over-year basis and the highest first-quarter revenue level on record, according to the Interactive Advertising Bureau's quarterly Internet ad revenue peport.

The estimates, compiled in conjunction with PricewaterhouseCoopers, demonstrate that "the interactive advertising field hasn't simply bounced back since the recession; it's growing with dynamic energy," said David Silverman, a partner at PwC. In the first quarter of 2010 ad spend reached $6 billion, growing by a more modest 7.5 percent, year-over-year.

The IAB's Q1 and Q3 spending estimates only provide topline numbers, with little insight into which channels attracted the most investment over those periods. The full report is issued twice yearly for full and half-year data.

According to the trade association's 2010 year-end report, however, search advertising continued to attract the lion's share of investment last year, with display advertising and sponsorships also enjoying growth.