Internet Ad Revenue Hits $8.4 Billion in 1st Quarter

Increased Spending on Social Media, Online Video and Mobile Likely Contributed to Growth.

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Internet ad revenue grew to $8.4 billion in the first quarter this year, a 15% increase over the $7.3 billion booked in the same period last year, according to the latest IAB Internet Advertising Revenue Report.

First quarter revenue growth trends
PricewaterhouseCoopers researches and produces the report, which is sponsored by the IAB. Growth in the double-digits is a positive sign for digital-media companies, as they look to bring more offline ad dollars online. But this year's first-quarter total marks slower growth than the industry experienced in the same quarter last year when revenue increased 24% from the $5.9 billion booked in the first quarter of 2010. A rise in spending on social platforms, online video and mobile were likely contributors to the growth last quarter. Still, rising waters do not boost all in the industry. Digital advertising for newspapers grew only 1% in the first quarter, according to the Newspaper Association of America, as these legacy publications continue to look for ways to counteract plummeting print circulation and advertising.
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