This small note on Radio-Info.com’s Taylor on Radio reported that advertising on the internet has become big business:
Internet advertising revenue has passed radio, and it’s up 17% in the latest quarter.
At a wild guess, we’ll see the Radio Advertising Bureau third-quarter results either tomorrow afternoon or just before Thanksgiving — Jeff Haley probably has them in his desk now. They’ll probably show something like a 4% to 6% gain for July through September, and that’s a very good thing for an industry whose revenue dived an average 18% in 2009. (And this quarter’s performance for radio compares favorably to newspapers, which are down another 4-5%.) Now we’ve got the quarterly numbers from the IAB, the Internet Advertising Bureau, and they show revenues jumping 17% from a year ago, to $6.4 billion. The IAB research comes from the New Media Group of PwC [PricewaterhouseCoopers], “compiled directly from the information supplied by companies selling advertising on the Internet.” But in this era of ultra-slow growth, even the Internet isn’t growing exponentially. The IAB chart shows a dip in the first quarter of this year, and Internet revenue was flat in the middle of 2009. Check the IAB’s release here.
You can see the numbers on the IAB site, here.
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