YNOT – Internet advertising revenues in the U.S. totaled $7.3 billion for the first quarter of 2011, representing a 23-percent increase over the same period in 2010, according to new figures from the Interactive Advertising Bureau and PricewaterhouseCoopers. The dollar volume represents a high-water mark for first-quarter revenues and a significant increase over the previous record set in Q1 2010.

“The consistent and considerable year-over-year growth we’re seeing demonstrates that digital media is an increasingly popular destination for ad dollars, and for good reason,” said IAB President and Chief Executive Officer Randall Rothenberg. “As Americans spend more time online for information and entertainment purposes, digital advertising and marketing has emerged as one of the most effective tools businesses have to attract and retain customers.”

According to David Silverman, a partner at PricewaterhouseCoopers LLP, “The year-on-year 23-percent increase in first quarter revenues is not just impressive in its own right, but especially so when you take into account the fact that 2010 was a record-breaking year itself for internet advertising revenue. These numbers indicate that the interactive advertising field hasn’t simply bounced back since the recession — it’s growing with dynamic energy.”

The IAB’s Internet Advertising Revenue Report is conducted independently by the New Media Group of PwC. The results are considered an accurate measurement of interactive advertising revenues because the data is compiled directly from information supplied by companies selling advertising at online properties. The survey includes data concerning online advertising revenues from websites, commercial online services, free e-mail providers and other companies.

The full report is issued twice yearly for full- and half-year data, with top-line quarterly estimates issued for the first and third quarters. Reports are available at IAB.net/AdRevenueReport.