Internet ad revenues jumped to a record high of $31 billion in 2011 in the U.S., according to a report released yesterday by the Interactive Advertising Bureau and prepared by PwC U.S. The report also shows that revenues in the fourth quarter were at an astounding $9 billion, which was 15% higher than third quarter results that same year, the IAB said in a press release.
“This historic moment, with an especially impressive achievement in mobile, is indicative of an increased awareness from advertisers that they need to reach consumers where they are spending their time — in digital media,” said Randall Rothenberg, president and CEO of the IAB.
The stellar mobile advertising results that Rothenberg refers to include a 149% growth rate year-over-year, the fastest-growing category. Mobile ad spending came in at $1.6 billion, up from $600 million in 2010.
The digital video advertising category grew by 29% year-over-year, which brought its 2011 revenue to $1.8 billion compared to $1.4 billion in 2010. Display-related advertising revenues were at $11.1 billion, a 15% increase from $9.6 billion in 2010.
“Pushing past the $30 billion barrier, the interactive advertising industry confirms its central place in media. Across search, display, digital video, digital provides a wealth of opportunity for brands and consumers. With the proliferation of smartphones and tablets, it is likely that the tremendous growth in mobile will continue as these screens become even more crucial to the marketing mix,” Rothenberg said.
As in 2010, retail advertisers represent the largest category of Internet ad spending, accounting for 22% in 2011, or $7.1 billion. That’s up from 21%, or $5.5 billion in 2010.