The Interactive Advertising Bureau and PricewaterhouseCoopers released the 2008 Internet Advertising Revenue Report Monday showing 126 percent growth in online video advertising, as total online video ad revenue increased to $734 million from $324 million in 2007. Despite only accounting for 3 percent of $23 billion in total Internet ad revenue, the significant revenue growth is an encouraging sign for online video advertising networks and content publishers who have ad-supported models.
"We are seeing an ongoing secular shift from traditional to online media as marketers recognize that ad dollars invested in interactive media are effective at influencing consumers and delivering measurable results," said Randall Rothenberg, president and CEO of the IAB, in a prepared statement.
Online video is the fastest growing ad category the report measured, and advertisers are rapidly adopting online video strategies as they see the granular audience measurement ability and user interaction rates of online video. Online video advertisers are also experimenting with new ad formats and options that should continue to drive growth in this category.
- see the IAB/PWC report release here
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