IAB: U.S. Internet Advertising Q3 Revenue Up 22 Percent To $7.9 Billion

The Interactive Advertising Bureau just released its third quarter numbers, with internet advertising revenues in the U.S. hitting $7.88 billion for the third quarter of 2011, up 22 percent from Q3 2010.

This also is a 2.7 percent increase from the record-setting revenues of the second quarter of 2011. This is the eighth consecutive quarter of year-over-year growth.

The IAB and PricewaterhouseCoopers both say that the uptick in ad spend is due to brand marketers recognizing where most of consumers spent their time—online. Obviously, despite the current economic conditions, advertisers are still shelling out on digital.