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Internet Ad Revenue Soars Past Broadcast TV Ad Revenue For First Time

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NEW YORK (AP) — For the first time, U.S. Internet advertising revenue has surpassed that of broadcast television thanks to sharp growth in mobile and digital video ads.

That's according to a report from the Interactive Advertising Bureau, which said Thursday that Internet advertising revenue rose 17 percent to a record $42.8 billion in 2013. Broadcast TV ad revenue, in comparison, was $40.1 billion in 2013.

Mobile advertising revenue more than doubled to $7.1 billion from $3.4 billion in 2012 as companies like Facebook, Google and Twitter boosted their mobile presence.

IAB is made up of more than 600 media and technology companies that sell most of the online advertising in the U.S. The report is based on a survey conducted by PricewaterhouseCoopers.

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