Despite an ailing economy, Internet advertising revenues grew 11% in the third quarter of 2008, according to an industry report. Revenues reached an estimated $5.9 billion, the second highest quarterly total ever. "A weakening economy will continue to be a challenge to all forms of advertising-supported media," says David Silverman, a partner at Pricewaterhouse Coopers. "However, the Internet should be better poised to withstand the storm given its ability to combine performance-based advertising with broad-based branding."
Through September, Internet advertising revenues totaled $17.3 billion this year, up from $15.2 billion during the same period last year. Since 2000, revenues have surged. Eight years ago, Internet advertising revenues totaled about $8 billion annually. This year alone, revenues are expected to eclipse $22 billion. "Interactive advertising continues to be the most measurable and cost-effective way to reach consumers, and we see more and more marketers seeking to harness its power," says Randall Rothenberg, president and CEO of the Interactive Advertising Bureau.
Third quarter revenue data is estimated. Actual results will be issued when fourth quarter statistics are released. Data was compiled by the New Media Group of Pricewaterhouse Coopers. The results are measured in Internet advertising revenues from a variety of sources, including Web sites, commercial online services and ad networks.
