Internet Ad Revenues in 2010 Hit Record High: IAB

in the US hit a record US$26 billion in 2010, up 15% from the year before, proving brands are starting to adopt digital media as a central component of their campaigns, according to a report by the

(IAB) and PwC.

found that the most popular online ad format was search, which represented 46% of the total revenue. The IAB also estimated mobile ad revenue to be between US$550 and US$650 million that year.

from 2009, the US$26 billion spent on internet advertising points to a continued focus on digital media ad spend, with dollars catching up to the eyeballs,” said PwC Assurance partner David Silverman in a statement, adding that digital video and social media fueled the growth.

Randall Rothenberg attributed the continued growth to how consumers have “shifted more of their time” to watching television shows and movies online, which led brand marketers to loosen their pursestrings online.