The Interactive Advertising Bureau (IAB) has released its Internet Revenue Advertising Report for the first half of 2013. Among other findings, the reports concluded that online ad video revenue is up 24% over the same time frame last year.

Online advertising companies scored more than $20 billion in revenue between January and June of 2013, smashing the previous half year record and beating last year’s total by more than $3 billion. Within that figure, online video advertising accounted for 7% of all revenue, raking in $1.3 billion over the relevant time period. That figure represents a dramatic 24% increase over last year’s $1.05 billion figure, which means that online video advertising is growing 5% faster than online advertising as a whole.

The news comes as no surprise to anyone who regularly follows the Comscore Online Video Rankings. Those metrics have reported record-breaking increases for the online video ad industry throughout all of 2013. Most recently, paid videos scored 22.7 billion impressions in the month of August, a number that accounts for nearly one-third of all online video views.