Report: U.S. online ad revenue hit record high in 2010

U.S. Internet advertising revenue hit a record US$26 billion last year, outpacing traditional media and surpassing newspaper ad revenue for the first time, according to a recent PricewaterhouseCoopers report commissioned by the Interactive Advertising Bureau, The Wall Street Journal reported.
The boost, up 15 percent from 2009, was due to the popularity of online videos and social media, according to the report
In the last quarter of 2010, advertising revenue also hit a record, at $7.4 billion, up 19 percent year-over-year, The Salt Lake Tribune reported.
Search was the most popular ad format, contributing 46 percent, or $12 billion, of the total revenue in 2010. Display made up 38 percent, or $9.9 billion, while classifieds accounted for $2.6 billion, or 10 percent.
The report also released estimated U.S. mobile ad revenue for the first time. It totaled between $550 million and $650 million in 2010, The Associated Press reported. 

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