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Despite the current economic crisis, the U.S. Internet advertising industry is not experiencing a pull-back in spending. Rather, online advertising continues a fast, if somewhat muted, growth during 2008, as the current situation accelerates the shift of advertising budgets from traditional into new media.

Worldwide spending on Internet advertising will total $65.2 billion in 2008, which represents nearly 10% of all ad spending across all media.

On average, more than 60% of the consumer respondents said they perceived Internet ads as “informative” – considerably higher than what was seen with TV and print ads. But on the downside, the survey showed that consumers tend to find TV ads more enjoyable and more likely to make them want to buy the product that was being advertised.

nternet advertising spending: Total revenue increased by 23.9% to $7.1 billion in the first quarter (1Q08) compared to $5.7 billion in 1Q07.

Internet advertising in the United States will continue to grow fast even as the current economic woes will lead to a contraction in ad spending overall.

Following reports from IDC, the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC) said that Internet advertising revenues for 2007 are estimated to grow to $21.1 billion, a 25 percent increase over $16.9 billion for 2006.