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It’s official — even online advertising isn’t recession proof.
U.S. Internet ad spending slid in the first quarter of this year by 5 percent compared to the same period last year, netting out at $5.5 billion, according to the latest report issued by Interactive Advertising Bureau and PricewaterhouseCoopers.
That figure represents the lowest ad spending level in nearly two years, and a decline of roughly 10 percent vs. the fourth quarter — when the industry’s long period of nearly uninterrupted growth showed signs of stalling.
The 5 percent decline is hardly surprising, given the widespread talk in the online industry of a weak display ad market.
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