NEW YORK: US internet advertising revenues increased by 15.6% to a new record level in the first quarter of 2013, a new report has shown.
A survey conducted by the Interactive Advertising Bureau, the trade body, and PwC US, the consultancy, as part of the ongoing IAB Internet Advertising Revenue Report, found that digital advertising revenues amounted to $9.6bn in the first three months of 2013, compared to $8.3bn in the same period a year earlier.
Apart from a period of relative slowdown during 2008-09, digital advertising revenues have increased steadily over the past decade, with annual end-year peaks around the Christmas shopping period, the report suggested.
"Consumers are turning to interactive media in droves to look for the latest information, to connect with their social networks, and simply to be entertained," said Randall Rothenberg, president and chief executive of the IAB.
"This first quarter milestone clearly illustrates that marketers recognize that digital has become the go-to medium for all sorts of activities on all sorts of screens, at home, at the office and on-the-run."
Earlier IAB data showed US consumers spending more time online at the expense of traditional media, with social networks and online video the fastest growing usage areas.
Consumers spent an extra seven minutes on social networks during 2012, while online video saw a similar increase thanks to the growing amount of television and film content available to viewers.
Rothenburg's comments were echoed by his colleague Sherrill Mane, senior vice president, Research, Analytics & Measurement at IAB, who noted that double-digit annual growth was continuing even as the online advertising business matured.
"This is an accomplishment that can be attributed to growing recognition by marketers that digital advertising is a critical part of all marketing in today's world," she said.
Data sourced from IAB; additional content by Warc staff