Internet advertising is having a banner year -- its best ever, in fact.
We already saw a record first quarter for the industry. Now, according to a biannual report from the Interactive Advertising Bureau, online ad revenues climbed to an astonishing $17 billion in the first half of 2012, or around $2.83 billion every month.
That represents 14% growth compared to the first half of 2011. It's not quite as good as that number's 23% growth, but impressive in a still-shaky economy nonetheless. Ten years ago, when Google AdSense and AdWords were just ramping up, online ads accounted for less than half a billion dollars per month.
Search advertising such as AdWords -- traditionally the strongest sector -- is still in the lead, accounting for 48% of all online ad sales. That's a significant uptick from last year; in fact, search revenues grew by 19%.
Banner ads (21%) and Craigslist-style classifieds (8%) are slipping slightly, while video ads are holding steady at 7% of the total spend.
And the much-touted mobile advertising market? At $1.2 billion over six months, mobile ads are growing fast -- nearly doubling since the first half of 2011. But they still only account for as much of the total as video ads.
The study, conducted by PricewaterhouseCoopers, is compiled directly from information supplied by online ad sellers, and is widely considered the most accurate gauge of the industry's health.