US online ad revenues fell 5.4% year-on-year in Q3 but were up slightly compared with the previous quarter, giving hope that worst of the recessionary ad slump is now over. According to the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers' (PwC) latest ad report, US online ad revenues totalled USD5.5bn in the quarter, down from USD5.8bn for the same period last year but up 1.7% from Q2 2009. The report describes the upturn as a "hopeful sign in a difficult media economy".
Though the ad sector has been "hit hard" by the economy, digital media has proved a bright spot amid the larger downturn, says IAB CEO, Randall Rothenberg.
"While all segments of the media industry have experienced declines, online advertising remains resilient and is once again showing signs of growth," adds PwC partner, David Silverman.