According to the figures, spend in the US for the first quarter of 2010 increased to $5.9 billion, an increase of 7.5% on the same period in 2009. Even though we’re just coming out of a global recession, this figure represents the highest growth for a first quarter in the history of the industry.
Pricewaterhouse Coopers’ David Silverman commented:
“The media industry – like the economy as a whole – saw tremendous challenges this past year, and uncertainty about the recovery remains.
However, entering 2010 with such strong first-quarter revenues is a sign of the health and vitality of online media, and of marketers’ continuing investment in interactive as a cornerstone of their advertising campaigns.”
The chief executive and president of the Interactive Advertising Bureau, Randall Rothenberg, added:
“The year-over-year growth we are seeing reflects marketers’ confidence in the value and effectiveness of interactive advertising.
The Internet, together with explosive technological innovation in devices and platforms, has transformed consumers’ lives, giving them access to entertainment and information however, whenever and wherever they want it.
We are seeing continued signs of an improved economy and interactive advertising market.”
There is a similar story here in the UK too, with Internet Marketing budgets being increased for the third quarter in succession in Q1 2010. According to figures from the Bellwether Report, released in April, the increase in the first quarter of 2010 represented the highest increase in online advertising budgets since the first quarter of 2008, two years ago.