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NEW YORK - UNITED States Internet advertising revenue rose 25 per cent in the third quarter to about US$5.2 billion (S$7.6 billion), a new record.
The report released on Monday by the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers showed online advertising revenue has hit new highs in each of the first three quarters of 2007.
Revenue for the first nine months of 2007 totalled US$15.2 billion, up nearly 26 per cent from the US$12.1 billion recorded during the first nine months of 2006, the report said.
'The continued robust growth of the industry indicates that marketers increasingly understand and appreciate the benefits of interactive advertising,' IAB Chief Executive Randall Rothenberg said in a statement. 'Marketers large and small have come to accept digital media as the fulcrum of any marketing strategy.'
The boom in online advertising has driven media and technology companies to build up their online advertising businesses, partly through acquisitions.
Among recent deals, Google agreed to pay US$3.1 billion for ad serving and tracking company DoubleClick, while Microsoft bought online marketer aQuantive for US$6 billion. -- REUTERS
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