The Secretary of State for Culture, Media and Sport said that the industry is facing a challenging future and outlined his support for self-regulation, emphasising the importance of internet advertising to the UK's wider economy.
Burnham said: "Government is moving away from thinking online is ungovernable. I don't think we are there yet, we'll get there in a self-regulatory way. The stakes in the ground are not quite there, that is something we need to address together."
He said that the industry needs to act responsibly and in doing so will "get full support of the government".
Nick Stringer, head of regulatory affairs at the IAB, said: "We recognise the importance of balancing online creativity and innovation with the need to protect consumers.
"The IAB welcomes the Secretary of State's emphasis on self-regulation in delivering that balance -- something that the IAB is striving hard to deliver."
Burnham also called for greater transparency as the lines between advertising and content continue to become blurred.
He said that "British viewers don't want blurring of content and advertising" and that the industry needs to look at the "poi".
When questioned about online behavioural targeting Burnham said he "could see the benefit of advertising of greater relevancy but there needs to be informed consent", and added "issues of privacy and civil liberty are part of this".
During his speech, Burnham referred to himself as the "minister for advertising" and recognised that the creative industries are becoming mainstream to the economy.
He said the government must nurture creative talent to compensate for what is being lost in other sectors due to the recession.
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