Despite the bad economy, U.S. Internet advertising revenue rose in the third quarter, according to an report from the Interactive Advertising Bureau and PricewaterhouseCoopers LLP.
The report released thurday said that online advertising revenue totaled almost $5.9 billion in the third quarter, up 11 percent from the same period last year. It marked a 2 percent rise from the second quarter.
About 10 percent of all money spent on advertising in 2008 is going toward online ads, according to U.K.-based advertising company ZenithOptimedia.
Because of the economic climate, David Silverman, a partner at PricewaterhouseCoopers, said the third-quarter growth is “nice to see.”
“I think given the economic environment, seeing any increase in any economic activity would be a bit of surprise, but speaks maybe to the strength of interactive advertising,” he said.
Silverman thinks advertisers will keep spending on online ads, especially in an economic downturn, because they are often paying for ads based on performance.
“They actually see they’re getting a result for their dollars spent,” he said.
For the first nine months of the year, online advertising revenue totaled $17.3 billion. This compares with $15.2 billion in the same period last year.