New York—Internet ad revenue reached $7.3 billion in the first quarter, up 23% over the year-earlier period, according to a new report
from the Interactive Advertising Bureau (IAB).
The figure is a record high for online ad revenue, the IAB said.
IAB Internet Advertising Revenue Report is an independent audit conducted by the New Media Group of PricewaterhouseCoopers.
"The year-on-year 23% increase in first-quarter revenues is not just impressive in its own right, but especially so when you take into account the fact that 2010 was a record-breaking year itself for Internet advertising revenue," said David Silverman, partner at PricewaterhouseCoopers, in a statement.
"These numbers indicate that the interactive advertising field hasn't simply bounced back since the recession; it's growing with dynamic energy."