Online advertising becoming a larger industry
The internet has emerged as an increasingly important part of the U.S., even in light of a recession that has undermined advertising as well as consumer spending.
This week, the Interactive Advertising Bureau released figures showing that interactive advertising now accounts for $300 billion in economic activity nationwide.
According to the organization, the advertising-supported internet is now 2.1 percent of the gross domestic product, and it employs 1.2 million Americans directly, along with another 1.9 million people in related support positions.
"This study underscores that the internet ecosystem is generating an increasing level of economic activity in every corner of the nation," said professor John Quelch of Harvard Business School.
Despite the growth of online advertising, one industry that has been unable to raise sufficient revenue from it is newspapers.
The study also found that there are more than 20,000 Internet-related small businesses in the U.S., many of which have fewer than 10 employees. Researchers went on to cite the overall benefits offered by the internet since its introduction, including business innovation, environmental benefits and empowerment for entrepreneurs.
By Steve Monfort
The internet has emerged as an increasingly important part of the U.S., even in light of a recession that has undermined advertising as well as consumer spending.
This week, the Interactive Advertising Bureau released figures showing that interactive advertising now accounts for $300 billion in economic activity nationwide.
According to the organization, the advertising-supported internet is now 2.1 percent of the gross domestic product, and it employs 1.2 million Americans directly, along with another 1.9 million people in related support positions.
"This study underscores that the internet ecosystem is generating an increasing level of economic activity in every corner of the nation," said professor John Quelch of Harvard Business School.
Despite the growth of online advertising, one industry that has been unable to raise sufficient revenue from it is newspapers.
The study also found that there are more than 20,000 Internet-related small businesses in the U.S., many of which have fewer than 10 employees. Researchers went on to cite the overall benefits offered by the internet since its introduction, including business innovation, environmental benefits and empowerment for entrepreneurs.
By Steve Monfort
