IAB US Reports internet video advertising revenue doubling

According to the US IAB’s 2008 Internet Advertising Revenue Report, digital video more than doubled its revenue with an increase to $734 million from $324 million in 2007, demonstrating how both marketers and consumers are embracing this dynamic platform.

“Digital video is one of the most critical growth areas for interactive advertising because it provides marketers with the power of sight sound and motion,” said Randall Rothenberg, President and CEO of the IAB.

Joey Trotz, Sr. Director, Strategic Advertising Technology for Turner Broadcasting and Co-Chair of the IAB’s Digital Video Committee. “Consumers’ appetite for the sight, sound and motion of digital video will only increase”

Exciting news from the US IAB, where their advertising report like the the IAB here in NZ is audited by PWC.  The IAB in New Zealand, where I chair the standards committee,  has followed the standards of the US in most parts to ensure that locally agencies and publishers can maximise reach whilst lowering costs, plus ensuring a positive and consistent user experience.

What excites me the most is the number of SME advertisers we are seeing embracing online video advertising. Silverlinemedia.tv has a number of SME’s doing online advertising that really corporates in their fields should be dominating.