Internet ad sales hit record $6.4 billion for quarter

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New York—U.S. Internet advertising revenue hit $6.4 billion in the third quarter of this year, the highest level ever for online advertising, and 16% higher than the $5.5 billion spent in the same period a year earlier, according to a new report from the Interactive Advertising Bureau conducted by PricewaterhouseCoopers.

IAB reported that Internet ad spending is accelerating. The third quarter's year-over-year growth rate outstrips that of the second quarter, which saw 13.9% growth over the same quarter in the previous year.

“Marketers have embraced digital media because that's where they can engage with their consumers,” said Randall Rothenberg, president-CEO of IAB, in a statement. “This vibrant, innovative industry is creating jobs and contributing to the growth of the U.S. economy.”

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