According to the Interactive Advertising Bureau (IAB) and Pricewaterhouse Coopers, revenue from online advertising spiked to a new high in of $7.3 billion in the first quarter of 2011. Q1 numbers are up 23% over same period in 2010. However, this figure is a slight drop from the fourth quarter of 2011, which saw $7.45 billion in online ads, AdWeek has reported.

Still, the rise over Q1 2010 highlights the return of digital ad spending after the recession, as well as the continued shift of ad dollars from print media to the Internet. Last year was already a record year for digital advertising, though market observers agree that digital spend has yet to cannibalize the $70 billion-plus TV ad market. In 2010, $26 billion was spent on Internet advertising. Search remains the most popular area for marketers, but sponsorships grew 88% last year, and display grew 24%.