Online ad revenues hit record high in US

Good news for Google if it can keep hold of its top spot in online advertising revenues, as it is announced that the first quarter of 2011 reached record levels in the US.

A 23 percent increase was recorded from the same period last year meaning that revenues for online advertising hit $7.3 billion, the highest the industry has seen to date, according to figures released by the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC).

The impressive growth pips the previous record last year and shows how important ad revenues are, with Facebook being touted as a threat to Google’s current status as top dog.

David Silverman at PwC believes that the results are also significant in showing that the “interactive advertising field hasn’t simply bounced back since the recession”, but that it’s growing “with dynamic energy”.