NEW YORK — Internet advertising revenue in the U.S. catapulted 15 percent in 2010, setting a record high at $26 billion.
The figures released Wednesday by the Interactive Advertising Bureau and PwC also reported record online ad revenue hikes in the fourth quarter of 2010, up 16 percent to $7.5 billion.
"More time spent online, especially with increases in digital video and social media, has certainly helped to fuel the continued growth," David Silverman, PwC assurance partner, said in a release.
Search remained the largest online-ad revenue category and accounted for 46 percent of online ad revenue in 2010.
The IAB estimates that Internet ad revenue last year surpassed that of newspapers, which amounted to $22.8 billion, as well as $22.5 billion from cable TV networks, $17.6 billion from broadcast TV networks and $15.3 billion from radio.
"We now have had five consecutive quarters of growth since the great recession impacted interactive advertising in 2009," said Sherrill Mane, an IAB senior vice president.