Interactive advertising generated more than $800m in revenue last year.
Update 4pm: PwC has apologised for the error about internet advertising spend.
As native advertising becomes more popular, industry standards organisation wants more clarity.
Digital ad spend in 2014 Q3 rises to $149 million.
Mr Randall says when Ms Higgins joined in 2009 the IAB represented 40 members, while now it represents more than 120 companies including major advertisers
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