Despite the slowing economy, marketers continued spending on Internet advertising last year to the tune of $21.2 billion, up 26 percent from the previous year, according to a report from the Interactive Advertising Bureau released on Thursday.
Keyword search, Google's cash cow, garnered the most revenue and had the greatest market share, 41 percent, followed by display advertising at 34 percent and classifieds at 16 percent.
For the fourth quarter, online ad revenue reached $5.9 billion, a 24 percent increase from the same period a year earlier.
The figures represent the fourth consecutive year and 13th consecutive quarter of record sales, the IAB said. The results met expectations.
The quarterly report was conducted by PricewaterhouseCoopers and sponsored by the IAB.