October 8 at 11:41 am
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Facing a souring economy, U.S. Internet ad revenue grew 15.2% during the first half of 2008 to $11.5 billion compared to the year-earlier period, according to a new report by the Interactive Advertising Bureau and PricewaterhouseCoopers. The second quarter 0f 2008 was up 12.8% from a year ago--but growth was essentially flat from the first to second quarter this year, suggesting that the weakening economy is taking a toll on Internet spending. Search advertising showed the biggest gains during the first half of 2008, jumping 24% to almost $5.1 billion as marketers increasingly turn to performance-based marketing as an efficient media buy in the midst of growing economic uncertainty. Display advertising, including banners, rich media and digital video, increased 19% to $3.8 billion. - John Federico