IAB: Internet ad revenue hit $7.3 billion in first quarter

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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."
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