Despite the global economic meltdown, online advertisement industry seems to have managed to keep itself afloat as indicated by the latest figures released by PriceWaterHouseCoopers and Interactive Advertising Bureau.

Online ad spending saw an increase of 11 percent in comparison to last year. The online ad spending is reported to have reached a high of $ 5.9 billion. This figure is up by 2 percent than in the second quarter of this year. Analysts are of the view that this has been the second best quarter in the online advertisement sector as far. Although the advertisement industry as a whole has not been doing all that well in the current rough economic environment, the online sector has braved the climate far better than other forms of media.

With the companies cutting down heavily on cost, the media highly dependent on advertising as their source of revenue is bound to suffer. However, the online sector need not worry with its competitive advantage of performance-based advertising. The importance of getting instant feedback and the response of the customers to a certain banner or ad is worth the cost for many companies so online advertisement is bound to see more growth not only in its profit but also its client base.

Via: AdWeek