The Interactive Advertising Bureau and PricewaterhouseCoopers have shared some new findings indicating that online ad revenues in the U.S. hit $5.9 billion for the first quarter of 2010. That’s the highest first-quarter revenue of all time.

"The year-over-year growth we are seeing reflects marketers’ confidence in the value and effectiveness of interactive advertising," said Randall Rothenberg, President and CEO of the IAB. "The Internet, together with explosive technological innovation in devices and platforms, has transformed consumers’ lives, giving them access to entertainment and information however, whenever, and wherever they want it. That’s why the vibrant interactive advertising and marketing industry lends major fuel to the U.S. economy."

"We are seeing continued signs of an improved economy and interactive advertising market," said David Silverman, PwC Assurance partner. "The media industry —like the economy as a whole—saw tremendous challenges this past year, and uncertainty about the recovery remains.  However, entering 2010 with such strong Q1 revenues is a sign of the health and vitality of online media, and of marketers’ continuing investment in interactive as a cornerstone of their advertising campaigns."

The record Q1 revenue comes after a record Q4, which saw $6.3 Billion in U.S. online ad revenue.

As Facebook continues its conquest of the web, expect it to play a bigger role in online advertising. Recent comScore numbers found that Facebook served the greatest number of impressions for display ads in the first quarter.