Web revenue strong in the good old days, study finds
The Interactive Advertising Bureau and PricewaterhouseCoopers issued their latest web spending figures, which are helpful if you care about what happened in the first six months of the year.
The trouble is what companies spent on Web banner or search ads in February or April or June suddenly seems almost quaint, if not irrelevant.
Will advertising budgets and plans look any different after a complete restructuring of the financial services sector? After a $700 billion rescue package? After the Dow Jones industrial average sunk below 10,000? Seems very likely.
But, as the IAB made clear, they aren’t about making forecasts.
“I want to remind everyone that we don’t engage in predicting,” an IAB executive said during a conference call to unveil their report. “And I’m very happy given what’s going on in the big broad world that we’re not engaged in predicting.”
So, here’s a look back at what was happening when people were still talking about “economic concerns” rather than “economic crisis.” From the IAB report:
Internet advertising revenues (U.S.) for the first six months of 2008 were $11.5 billion, setting yet another new half-year record that represents a 15.2 percent increase over the first half of 2007. The second quarter of ’08 was up 12.8% over the same period of 2007 and showed a slight decline of 0.3% from the first quarter.
Search and Display-related advertising continue to set records. Search revenues totaled almost $5.1 billion for the first six months of 2008, up 24 percent from the $4.1 billion for the same period in 2007. Display-related advertising totaled close to $3.8 billion for first six months of 2008, compared to the $3.2 billion reported for the same period in 2007, showing about a 19% increase.