Internet Advertising Spending Hits Record $14.9 Billion, 11 Billion Euro, in H1 2011

Despite the economy being on the rocks again, it seems that internet advertising is once again seeing healthy growth. In fact, it seeing record numbers and growth in the first half of the year.

Granted, the figures may be less encouraging for the second half, but the second quarter was the most impressive, so maybe the inertia holds.

"Internet ad revenues rose 23.2 percent — to a record $14.9 billion — in the first half of 2011," the Interactive Advertising Bureau announced.

"The rate of growth more than doubled year-over-year, as last year’s first-half ad revenues of $12.1 billion had represented an 11.3 percent increase over 2009," it said.

That's impressive because internet advertising saw a resurgence in 2010 after being hit hard, along with every other aspect of the economy, in 2009. Ad spending saw a huge increase in 2010 compared to 2009, making 2011's growth even more important.

It's important to note that the second quarter was the strongest of the two indicating that, at least as recent as this summer, the industry was still moving up.

"Internet ad revenues for the second quarter alone also reached new heights, increasing 24.1 percent to $7.7 billion. That performance compares to last year’s same-period revenues of $6.2 billion, up 13.9 percent from 2009," the report said.

IAB's data is corroborated by Google's very positive financial report for the first and second quarter of the year. Revenue was up 32 percent, year over year, in Q2. Google makes the vast majority of its money from online advertising.

It remains to be seen whether this will keep up for the second half of the year as well. One indicator is going to be, again, Google's revenue numbers for the third quarter which should be coming soon now.