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Money in your handsThe third quarter of 2016 set a new record, according to new data from the Interactive Advertising Bureau (IAB).

Advertisers in the U.S. plunked down $17.6 billion for digital advertising in the quarter, according to the latest IAB Internet Advertising Revenue Report prepared by PwC US.

“This marks the highest third quarter for digital advertising spending on record, and represents a 20 percent increase over the same time period in 2015,” according to the IAB. “It also accounts for a 4.3 percent increase over Q2 2016.”

In other words, as the country moves to digital, so does the advertising.

“The momentum of advertising in mobile, digital video, and other innovative formats is undeniable,” explained David Doty, the Executive VP and CMO at IAB. “These record-setting third quarter revenue figures reflect marketers’ trust in the internet’s power to connect with today’s audiences.”

PwC partner David Silverman, who worked on the report, agreed.

“Digital has become a critical part of advertisers’ marketing strategies,” Silverman said. “Increasing media consumption on interactive screens will surely lead to even more investment in the digital landscape.”

The IAB Internet Advertising Revenue Report determines Q3 2016 revenue by estimation based on a representative sample of the overall survey respondents. The data is compiled directly from information supplied by companies selling advertising on the internet.

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