Data released by Pricewaterhouse and the Interactive Advertising Bureau shows that despite the economic decline of 2008, spending on internet advertising increased to $23.4 billion during the year. This marks the 5th record-setting year in a row for the industry and serves as a glimmer of hope in otherwise tough times.
According to the data, online search spending grew 19% from 2007 to 2008. Although the rate of growth did slow with the economy, 19% is still a strong increase over the previous year. Overall the information indicates a continued shift in marketing dollars from traditional media to online media as marketers continue to try to get more from less.
