In the U.S., revenue from online advertising is up 22% from a year ago, amounting to $7.88 billion, according to the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PWC US). This is the eighth consecutive quarter of year-over-year growth.

The data are compiled directly from information from online advertisers, including data from websites, commercial services, free email providers and other Web properties. "Even with a softened economy, digital advertising is making tremendous gains," says PwC US partner David Silverman.

Quarterly online ad revenue since 1999:

Maybe it goes without saying that the future of advertising is online, but it's good to know the numbers back that up. It's important to break down the trend into mobile and desktop, tablet and smartphone numbers sometimes, but it's also important to see the big picture.

A steady climb in online ad revenue, even in a bad economy, means that the Web is working for consumers and brands alike. Even if it isn't working perfectly, it's working. We're putting enough time and energy into the Web that it's becoming a real, growing economy. Now let's go out there and make some stuff!