Report: Internet marketing continues rapid growth

According to a recent report from the Interactive Advertising Bureau (IAB) in conjunction with PricewaterhouseCoopers, internet advertising revenue has grown for the eighth consecutive quarter.

The Internet Advertising Revenue Report revealed that U.S. ad revenues reached $7.88 billion during the third quarter of 2011 - a 22 percent increase year-over-year. IAB's second quarter reports reveal that Q3 revenue grew from Q2's $7.7 billion and Q1's $7.3 billion. They also found that totals for the first six months of 2011 reached $14.9 billion, a 23 percent increase year-over-year. This bodes well for the 2011's final quarter.

"Brand marketers recognize that their messages need to be where their consumers are spending time - and that is increasingly in digital media," said Randall Rothenberg, president and CEO of IAB. He added that the consistently growing results have made more marketers "stand up and take notice."

David Silverman, a partner at PwC, notes that increases in local internet marketing point to a new "paradigm" in the advertising world, as it's making gains even in the "softened economy."