Spending on digital advertising is on an upward trend and set a record in the third quarter. U.S. advertisers invested $17.6 billion in digital advertising in the third quarter of 2016, according to the latest IAB Internet Advertising Revenue Report by IAB (Interactive Advertising Bureau) and prepared by PwC US.

This marks the highest third quarter for digital advertising spending on record, and represents a 20 percent increase over the same time period in 2015. It also accounts for a 4.3 percent increase over Q2 2016. Many marketers are moving more and more toward digital ads. “If I can’t measure it, I don’t do it,” one told WRAL Techwire recently.

“The momentum of advertising in mobile, digital video, and other innovative formats is undeniable,” said David Doty, executive vice president and CMO, IAB.

Digital a critical part of marketing

“These record-setting third quarter revenue figures reflect marketers’ trust in the internet’s power to connect with today’s audiences.”

“Digital has become a critical part of advertisers’ marketing strategies,” said David Silverman, a partner at PwC US. “Increasing media consumption on interactive screens will surely lead to even more investment in the digital landscape.”

The Q3 2016 revenue is estimated based upon a representative sample of the overall survey respondents. The data is compiled directly from information supplied by companies selling advertising on the internet. The survey includes data concerning online advertising revenues from web sites, commercial online services, free e-mail providers, and all other companies selling online advertising.

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