We’ve all seen the plethora of reports and headlines about the video ad business over the past few years. The IAB continues their efforts to help us all face the right direction. That’s cool because bumping into awkward ad sizes just isn’t what it once was (hey man, the animated gif eye sore days are over; get with the program, and make some money). Check out their guidelines and give them feedback. Click here. Doo it. Doo it.

And the sleeping giant in the room keeps getting bigger. Some people jumped in long ago. Some more recently. Some must be waiting until they see $100B. Anyway you slice it… the Internet is not your fathers Internet any more (as if that makes sense; hey remember those Oldsmobile cars…didn’t think so).

Congratulations to all involved in that phat $21.1B number! Am I crazy, or does it seem like the party is just getting started? No, I’m not referring to the economy. For all I know, a global recession will hit and slow everything down. But, when you think about what the Internet has become, and then you think about what could be possible given where we are at today… it seems like we are just getting started. I think they call that job security, or a career path, or something.

And now for the data and a couple quotes…

Internet Advertising Revenues Again Reach New Highs, Estimated to Pass $21 Billion in 2007 and Hit Nearly $6 Billion in Q4 2007

NEW YORK, NY (February 25, 2008) – The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC) today announced that Internet advertising revenues for 2007 are estimated to grow to $21.1 billion, a 25 percent increase over the previous revenue record of nearly $16.9 billion for full year 2006.

… “Interactive media continue their unabated growth,” said Randall Rothenberg, President and CEO of the IAB. “There is no media as measurable as interactive, and they provide products and services at the precise moment a consumer desires them. I applaud the industry on maintaining this extraordinary momentum of innovation, which has fundamentally changed the way we live today.”

“The record $21.1 billion year of interactive advertising is the culmination of consecutive record quarters throughout 2007,”said David Silverman, partner, PricewaterhouseCoopers. “The continued record growth evidences the importance and uniqueness of interactive media to both consumers and the marketers that are trying to reach them.”

More @ IAB: Internet Advertising Revenues in Q3 ’07 Surpass $5.2 Billion, Setting New High

The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers LLP (PwC) announced that Internet advertising revenues exceeded $5.2 billion for the third quarter of 2007, representing yet another historic high for a quarter and a $1.1 billion increase, or 25.3 percent, over Q3 2006.