The recently released 2008 Internet Advertising Revenue Report from the Interactive Advertising Bureau and PricewaterhouseCoopers shows that marketers spent more on Internet advertising than on radio advertising in 2008.

The report found Internet advertising revenues grew 10.6 percent to $23.4 billion in 2008, making it the third largest ad-supported medium behind newspapers and television.

Radio revenues, on the other hand, fell 9 percent to $19.5 billion, around $4 billion less than Internet.

The main driver of growth in Internet revenues was search, growing 19.8 percent during 2008, followed by display advertising (21 percent), classifieds (13 percent), lead generation (7 percent) and rich media (7 percent).

Source: Helen Leggatt, “Report: Internet ad revenues outstrip radio,” BizReport, April 3, 2009

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