Ad revenue optimization technology provider Pubmatic released a report which revealed that ad pricing levels have increased 35% since the start of 2009.

Pricing for ad inventory sold through indirect channels such as ad networks and ad exchanges has steadily increased every month, gaining 47% since the end of January (see chart below). It’s difficult to determine the actual cause of the increase in ad pricing. While it might be a seasonal adjustment as retailers gear up after their 2008 holiday and for 2009 campaigns, it might also signal that ad spending is getting a bit of a boost as the recession nears its end.

“Although ad pricing has not returned to year-ago levels, the industry has gone up consistently every month since January 2009. The worst may be behind us,” said Rajeev Goel, PubMatic Co-Founder and CEO. “There is more hope that Fall online ad spending may reach near-normal levels.”