Once upon a time, two starry eyed dreamers participated in a business plan contest. They did their homework, they found the pain, they created a solution, and they really believed they were on to something. However, in the end, they lost. After not even making the finals of the contest they discussed their business with the guru, the director of the contest, and they asked why they lost. After some discussion, the guru said point blank, I don't think Internet advertising has arrived yet. Now of course, if he was speaking about Puerto Rico, then he was absolutely right. But if was speaking about the Internet in general, which is how the two dreamers took it, then he is, of course, dead wrong.
Recently, the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers LLP (PwC) announced that the 2007 Internet Advertising Revenue Report shows Internet advertising revenues in the U.S. continued their upward climb. Here are some highlights from that report:
- For the full year 2007, revenues totaled $21.2 billion, exceeding 2006 performance by 26 %, itself the former record year.
- 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.
- This is the fourth consecutive year and 13th consecutive quarter of record results.