United States Internet advertising revenue continued strong in 2008, topping $23 billion for the year, according to the 2008 Internet Advertising Revenue Report, released Monday by the Interactive Advertising Bureau and PricewaterhouseCoopers. Full-year revenues totaled a record $23.4 billion, exceeding 2007's performance (itself the former record of $21.2 billion) by $2.2 billion or 10.6 percent. Fourth-quarter online revenues of $6.1 billion mark the first time the interactive advertising industry achieved and surpassed $6 billion in a single quarter. The quarterly figure represents a $154 million, or 2.6 percent increase, from fourth quarter of 2007, which had revenues of $5.9 billion.
This is the fifth consecutive year of record results. Search remains the main driver of revenue growth, according to the report, showing a 19.8 percent increase over 2007. Digital video, however, more than doubled its revenue with an increase to $734 million from $324 million in 2007.
The growth in online advertising in 2008 came despite an overall weakness in advertising spending. Nielsen has reported that United States advertising for the full year 2008 was down 2.6 percent compared to 2007.