Internet advertising revenues in the United States grew 37 percent in the first half of this year, reaching a new high of $7.9 billion.Keyword ads displayed alongside search results remain the most lucrative format, accounting for 40 percent of revenues from January to June, the Interactive Advertising Bureau said Monday. Banner display ads made up 21 percent and classified ads 20 percent.
Revenues are on target for a fourth consecutive year of growth _ and the third of setting records, said Pete Petrusky, director of entertainment and media at PricewaterhouseCoopers LLP, which conducted the quarterly study for the IAB, an industry trade group.
Online ad revenues reached $12.5 billion last year.
Despite the growth, Internet advertising accounts for only about 5 percent of all U.S. advertising revenues.