Web ads hit first-quarter record with $8.4B

Internet advertising, mostly from text-based ads, reaches an all-time high for the first quarter.

IAB

More advertisers are flocking to the Web to court buyers, according to the Associated Press. First quarter results for Internet advertising revenue are in and they're record high -- reaching $8.4 billion.

The Interactive Advertising Bureau, which gathered the data, told the Associated Press that this is the highest Internet ad revenue ever recorded for the first three months of the year and it's up 15 percent from $7.3 billion during last year's first quarter. The overall record is $9 billion, which happened during the fourth quarter of 2011.

According to the Associated Press, the majority of the revenue comes from Google and other text-based ads.

Now with the Internet's ad revenue growing, the next frontier will most likely be mobile. However, new data from venture capitalist Mary Meeker shows how quickly mobile use is taking off around the world and also how hard it is for companies to capitalize on it.

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