IAB: Online ad spend up 15% so far

The US and global economies may be weakening, but according to the latest research from the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers, the online advertising spend continues to grow. Through the first six months of 2008, IAB reports that online ad spending increased by more than 15%.

by Kristina Knight

That brings the total spend to just over $11 billion in the US. Q2 alone saw an increase of 12% year over year but first to second quarter growth was basically flat.

"The essentially flat performance we see quarter to quarter reflects in part cyclical advertising trends," said Randall Rothenberg, President and CEO of the IAB. "Compared to the trajectory in other media and in the general economy, interactive has outperformed because it delivers a level of accountability unmatched by any other advertising medium."

Search marketing saw the largest growth (24% growth) through June; most likely this is because the metrics surrounding search marketing are the most developed of the online arenas. Display ads, from banners to rich media and video, saw 19% growth.

Although good news, this doesn't mean that online advertising isn't seeing the effects of the economy. These percentages, of course, don't take into effect the credit crisis of the past few weeks and the downturn of the stock market. Still, Rothenberg expects online ad spending to reach $23 billion in 2008.

Tags: IAB, Interactive Advertising Bureau, online ad spend, online advertising

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