Internet advertising grew 15pc in the first quarter this year to US$8.4bn, the highest first quarter revenue every measured by the Interactive Advertising Bureau and PricewaterhouseCoopers.
"More online consumers than ever are taking to the internet to inform and navigate their daily lives — by desktop, tablet or smartphone," said Randall Rothenberg, President and CEO, IAB. "Marketers and agencies are clearly-and wisely-investing dollars to reach digitally connected consumers."
In recent weeks IAB revealed that one in five advertising dollars in Europe is now spent online.
Europe’s online market grew 14.5pc year-on-year and is now valued at €20.9bn. By comparison, the overall European advertising market – excluding online – grew at just 0.8pc.
Digital media has captured the consumer’s imagination
“Digital media captures consumers’ imaginations, and marketers increasingly turn to interactive advertising to successfully speak to their customers," said Sherrill Mane, Senior Vice President, Research, Analytics & Measurement, IAB.
“The year-over-year growth between Q1 2011 and Q1 2012 sets quite a milestone," said David Silverman, Partner, PwC U.S.
“Moreover, a 15pc increase over the comparable period in 2011 is a solid affirmation the internet is delivering on its promise to attract consumers and the advertising dollars that follow."