Online Advertising Racks Up Record $7.3B First Quarter

Revenue for digital spots jump 23 percent in the first three months of 2011

Not even pop-up blockers can dampen the Internet advertising market.

Online promotions generated a record $7.3 billion in the first quarter of 2011, according to a report  released Thursday by the Interactive Advertising Bureau and PricewaterhouseCoopers. 

That represents a 23 percent jump from the $5.9 billion banked during the same period a year ago. 

The growth is attributable to Americans increased appetite for online entertainment and social networking, making the digital a more attractive platform for advertisers, according to Randall Rothenberg, President and CEO of the IAB. 

Internet advertising totaled $26 billion for all of 2010; a mark that the industry is on pace to shatter.