Revenues generated from internet adverts have hit $20bn during the first six months of 2013, an 18% rise over the same period last year, the latest Interactive Advertising Bureau (IAB) report reveals.
The study was carried out in collaboration with PwC, and the new IAB Internet Advertising Revenue Report revealed that mobile revenues soared by 145% to $3bn, while the digital video generated $1.3bn in revenue during the first half of 2013.
IAB president and CEO Randall Rothenberg said that digital has steadily increased its ability to captivate consumers and then capture the marketing dollars that follow.
"Mobile advertising’s breakneck growth is evidence that marketers are recognizing the tremendous power of smaller screens," Rothenberg said.
"Digital video is also on a positive trajectory, delivering avid viewership and strong brand-building opportunities."
During the January to June period, search revenues soared to $8.7bn, up 7%, while the display-related advertising revenues reached $6.1bn, which accounted for 30% of revenues over the period.
The top three advertising verticals including retail (20%), financial services (14%) and automotive (12%) collectively accounted for 46% of advertising revenue during the period.
PwC partner David Silverman said that the latest report not only confirms that brands are making a greater commitment to interactive, but also suggests that mobile and digital video are being identified as integral elements of the marketing mix.
"Internet advertising’s ability to impact and engage is evident across digital screens, whether big or small," Silverman said.
IAB Research, Analytics and Measurement senior vice president Sherrill Mane said that consumers are embracing new screens, new content and transforming how they shop, communicate and consume content at an accelerated clip.
"And, in response, marketers are turning to those same interactive arenas just as quickly," Mane said.
