"It is abundantly clear that marketers are seeing a compelling opportunity to leverage the Internet as a powerful medium that drives both branding and sales results," said Peter Petrusky, director-advisory services, PricewaterhouseCoopers.
Up 6% from last quarter
Ad spending in the first quarter of this year increased 6% over the $3.6 billion spent in the fourth quarter of last year. Total ad revenue for the first quarter of last year was $2.8 billion.
The IAB, which represents over 250 interactive companies responsible for about 86% of U.S. Web advertising, did not break out ad spending by category for the first quarter.
Also this week, TNS Media Intelligence reported similarly strong online-ad spending this year. TNS reported that Internet-display advertising led all alternative channels in percentage growth, increasing 19.4% since last year to $2.31 billion. TNS also found that in the first quarter, the 100 biggest Web spenders accounted for 34.7% of all Web-display spending.