The New York-based company also intends to double its reach and games portfolio by year-end, according to a statement from the firm.
IGA Worldwide has agreements with major publishers such as Electronic Arts, Atari, Acclaim, Codemasters and Valve.
"Seven-figure budgets are no longer an anomaly and we are seeing more brands shifting dedicated budgets of this magnitude into the in-game space," said Justin Townsend, CEO of IGA Worldwide. "This supports the general expectation that the market will grow by between 40 and 50 percent in 2007, with the latest market-size estimates for 2010 averaging $1.3 billion."
Analysts expect the US in-game ad market in particular to reach anywhere from $563 million (Lazard Capital Markets) to $732 million by 2010 (Yankee Group).