The Interactive Advertising Bureau (IAB) says U.S. internet ad revenues hit $15 billion in the third quarter, which is the highest quarter on record.
This is the main finding of the latest IAB Internet Advertising Revenue report from the IAB and PwC US. The figure represents a 23% increase over Q3 last year, which was $12.2 billion. That itself was a record at the time.
It's also a 5% increase from Q2 2015, which saw $14.3 billion.
“These landmark figures confirm marketers’ confidence in using digital to reach consumers,” said IAB President and CEO Randall Rothenberg.
“Brands and agencies are focusing ever more attention on interactive screens, following consumers as they flock to digital platforms to be entertained, engaged, and informed,” added Sherrill Mane, Senior Vice President, Research, Analytics, and Measurement at IAB.
“These numbers demonstrate that digital is a critical part of the marketing mix,” said David Silverman, a partner at PwC US. “Brands understand that interactive provides the type of rich, immersive experiences that attract today’s audiences, no matter the environment or time of day.”
IAB recently reported in a separate study that the digital ad industry stands to gain $8.2 billion a year by eliminating fraud and issues with the Internet supply chain. According to the study, fraudulent impressions, infringed content, and “malvertising” cost the industry that much annually. More on that here.
Image via IAB