US Internet ad revenue up 37% in first half of 2006

U.S. Internet advertising revenue rose 37 percent in the first six months of the year, hitting a record of nearly $8 billion, according to a study released on Monday.

The study, released by the Interactive Advertising Bureau and PricewaterhouseCoopers, comes just days after a revenue warning by Yahoo Inc. raised concerns that ad spending in new media could be slowing.

In warning about its revenue, Yahoo pointed to weakness in advertising from automobile and financial firms, two key sectors in marketing. Since the disclosure, analysts have been divided over whether the issue is solely Yahoo's or signals a wider slowdown in online ad spending.

Source: Reuters