More advertisers are now seeking the Web to draw buyers, says the Associated Press.
The Interactive Advertising Bureau, which gathered the data, indicated first-quarter results for Internet advertising revenue at a record high — reaching US$8.4 billion.
The research bureau told the AP that this is the highest Internet ad revenue ever recorded for the first three months of the year and it’s up 15 percent from $7.3 billion during last year’s first quarter.
The overall record is $9 billion, which happened during the fourth quarter of 2011.
The AP says the majority of the revenue comes from Google and other text-based ads.
Following the growth of the Internet’s ad revenue, mobile advertising would most likely be the next frontier.
Data from venture capitalist Mary Meeker however indicates how fast mobile use is taking off across the globe, and how difficult it is for companies to capitalize on.