Online ad revenues breached the $21-billion mark last year, according to the lastes report by the Interactive Advertising Bureau (IAB) and Pricewaterhouse Coopers (PwC). The report estimates Internet ad revenue increased by 26% last year compared to 2006, Q4 2007 Internet advertising revenues hit $5.9 billion, representing historic revenues for a single quarter and a 24% increase over the same period in 2006.

In the fourth quarter of last year, Internet advertising revenues hit $5.9 billion, the biggest quarterly number ever reported by the IAB and PwC, and a 13 percent increase over third quarter of 2007. The $5.9 billion figure represents an increase of 24% over the same period in 2006, according to the report.

This is the fourth consecutive year and 13th consecutive quarter of record results. “Despite the current state of economic uncertainty, 2007 was another record year and the 13th consecutive record quarter. Interactive advertising is not just the future, it is the here and now, as it represents a meaningful and growing component of U.S. advertising and marketing spend,” said David Silverman, partner, Assurance, PricewaterhouseCoopers.

“This achievement is a testament to the continued vitality of interactive,” said Randall Rothenberg, president and CEO of the IAB. “Explosive innovation in the industry is providing marketers with new and unique ways to reach consumers—it’s a very exciting time.”

Get the full story at iab.net
View a full copy of the report.