• by Gavin O'Malley  @mp_gavin, October 9, 2013

Riding dual revolutions in mobile and video technology, Internet ad revenues soared to a record $20.1 billion during the first half of 2013.

That’s according to the latest report released Wednesday afternoon by the Interactive Advertising Bureau and prepared by PwC US. The surge represented an 18% increase over last year’s first-half ad revenues of $17 billion.

Similarly, second-quarter 2013 Internet ad revenues saw an 18% year-over-year increase -- reaching $10.3 billion, up from $8.7 billion during the second quarter of 2012.

Continuing to steal the show, mobile ad revenues rocketed to $3 billion in the first half of 2013, which represented triple-digit growth of 145% from $1.2 billion in the same period year-over-year.

“Mobile advertising’s breakneck growth is evidence that marketers are recognizing the tremendous power of smaller screens,” Randall Rothenberg, president and CEO of the IAB, said in a prepared statement. “Digital video is also on a positive trajectory, delivering avid viewership and strong brand-building opportunities.”

Digital video -- technically a component of display-related advertising -- took in $1.3 billion in revenue during the first six months of 2013, which represented a bounce of 24% over the first half of 2012 at $1.1 billion.

Overall, display-related advertising revenues in the first half of 2013 totaled $6.1 billion, which accounted for 30% of revenues in the time period -- up 9% from $5.6 billion in the first half of 2012. Search revenues in the first half of 2013 totaled $8.7 billion -- up 7% from $8.1 billion in the first half of 2012.

The top three advertising verticals accounted for 46% of advertising revenue, including retail at 20%, financial services at 14% and automotive at 12%.

“Consumers are embracing new screens, new content and transforming how they shop, communicate and consume content at an accelerated clip,” Sherrill Mane, senior vice president, research, analytics and measurement at the IAB, stated. “On response, marketers are turning to those same interactive arenas just as quickly.”

AB sponsors the IAB Internet Advertising Revenue Report, which is conducted independently by the New Media Group of PwC.

The survey includes data concerning online advertising revenues from Web sites, commercial online services, free email providers and all other companies selling online advertising.