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More good news from the online ad sector across the Atlantic – internet ad revenues grew to a record of $4.9bn (£2.5bn) in the first three months of this year, according to new research from the Interactive Advertising Bureau (IAB).

The figure represents a 26% increase year on year and a 2% jump from the last quarter of 2006.

UK online ad spend has overtaken that spent on national newspaper advertising for the first time, while Google has also extended its dominance of the market.

New figures from the IAB and PwC reveal that online ad spending passed the £2bn mark for the first time last year, with the market growing by a massive 41% from 2005.

Advertising.com now reaches 26.9m unique users - almost 90% of the UK's internet population - according to figures from comScore Media Metrix.

Its nearest rival is MediaBrokers, which reaches 22m uniques, 73.5% of the UK market. ValueClick reaches 68.4% of the UK's internet users.

US online ad revenues reached a new record of $4.2bn in Q3, according to figures from the Interactive Advertising Bureau (IAB).

The report, conducted by PwC, showed a 33% increase in internet ad revenues from the same period in 2005, and a rise of 2% from Q2’s figure of almost $4.1bn.

Yahoo has today launched a new US website devoted to food, in an effort to offer more unique content and boost its advertising sales.

Yahoo’s food site will feature a searchable recipe section, as well as videos and blogs from a range of celebrity chefs. It will launch in the US initially.

Channel 4 has issued a warning that Google is set to overtake them in terms of advertising revenue this year.

The search engine is set to earn £900 million in advertising revenues for the UK market, which will top the predicted Channel 4 figure of around £800 million.

The BBC could make up to £105 million from online advertising on its BBC Worldwide web services, according to a strategy report from Accenture.

The Guardian reports that the BBC is considering bringing in ad revenue from overseas viewers of its website, though BBC staff have previously voiced their opposition to online advertising.

ValueClick announced today that it has completed the integration of its vcmedia and Fastclick online advertising networks, creating a network with 59% reach among UK internet users.

The announcement, which follows the purchase of the US network Fastclick a year ago, is significant because it demonstrates the increasing competition in the ad networks space and the importance of reach as a selling point for the major players.