WebProNews

Full year 2007 US advertising revenues exceeded 2006 by 26 percent, hitting a mark of $21.2 billion last year.

Recession? What recession? The mood of Google and others in the online advertising business must be one of happy Snoopy-dancing glee, as the release of the Interactive Advertising Bureau (IAB) report showed big growth for 2007.

Keyword search advertising pulled in 41 percent of the 2007 market, with $8.8 billion arriving in the coffers of search ad companies. Display advertising, including sponsorships, rich media, and digital video, totaled 34 percent of last year's market, at $7 billion.

"Despite the current state of economic uncertainty, 2007 was another record year and the 13th consecutive record quarter," David Silverman, partner, Assurance, PricewaterhouseCoopers, said in a statement. "Interactive advertising is not just the future, it is the here and now."

"Q4 2007 Internet advertising revenues hit $5.9 billion, representing historic revenues for a single quarter and a 24% increase over the same period in 2006," IAB noted.

Classifieds picked up 16 percent of ad revenue in 2007, while lead generation grabbed 7 percent. Consumer related advertisers drove 55 percent of the revenue going to the industry, with the financial and computing industries following at 15 and 11 percent respectively.