The Internet Advertising Bureau today announced in a positive report this morning that internet advertising in the U.S. grew 10.6 percent to $23.4 billion in 2008.
The report is an annual report for the online advertising industry for 2008.
Online advertising grew by about 10.6% last year while outpacing TV growth
Search advertising dominated with 45 percent of total Internet advertising market share and grew 20 percent for the year.
Rich media and video also showed fast growth. With online video ads growing 123%
Display advertising grew 8 percent growth for the year, but declined 4 percent in the fourth quarter
Performance advertising was 57%, while impression based advertising was 39% and the rest was hybrid at 4%
The full report is here for your reading pleasure.
IAB 2008 Report – Get more Information Technology:
Given the state of the economy, overall it is great news for the industry. We think that Internet/Interactive advertising will will continue to gain share from traditional media formats. Remember the old adage, dollars follow eyeballs.
The main reason we decided to start Permuto was we saw a huge opportunity in online advertising. Online advertising is a critical service which allows millions of publishers, social networks, and other services to provide so many low cost services on the web.
Online advertising is still in its infancy, where the amount of time spent on the Internet is roughly equal to the amount of time spent by the average American watching TV. However, the amount of money being spent on the Internet is roughly a third of TV.
To bridge the gulf the online advertising spend, the challenge for marketers is to innovate and really bring out what is special and unique about this medium while making it scalable in its reach to touch millions of people who utilize the web. The company that unlock this potential will be huge.
The industry is still young. Lots of potential and much opportunity.
When we founded the company back in April 2008, one of the first things we did was to look for a good name for the company. As many of you know, it is difficult to find a proper name that has a good meaning, is easy to spell, pronounce, remember, and most importantly… available as a domain name. After much searching, our CTO, Navdeep Saini, found the name for our new company, Permuto.
Many people we have met with have asked us what Permuto means. Supposedly the name is derived from a Latin root for “total transformation”. I also found a Spanish definition from the Collins Spanish-English dictionary.
permutar vt
1 (Mat) to permute
2 [+puesto de trabajo] to exchange, swap
[+acciones, edificios] to switch, exchange
[+intervenciones, actuaciones] to interchange
As the story goes, we all liked the name and hence Permuto was born!
Welcome to the Permuto blog! This is where we will post random musings and photos from our team, ranging from personal updates, technical insights, to perhaps totally random thoughts about the state of the industry.
Reading this blog is the best way to hear directly from the Permuto team and learn about new developments.
