IAB: First-Quarter Internet Ad Spending Hits $351 Million
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The Internet Advertising Bureau (IAB) said that its "Advertising Revenue Reporting Program" shows that total first-quarter spending on Internet ads reached $351.3 million.
That's an increase of 271% over the first quarter of 1997 and the eighth consecutive quarter of positive revenue growth.
The report was presented by Coopers & Lybrand at the IAB's annual membership meeting in San Francisco.
"Internet advertising continues its billion dollar run-rate for the second quarter in a row, and continues to trend towards a traditional media model, with computer and consumer-related advertising leading the way," the IAB said.
Category spending was as follows: Computing (27%), consumer-related (25%), telecom (14%), financial services (13%) and new media (10%).
The survey also found that banner advertisements continue to dominate spending in the category (55%) with sponsorships (40%), interstitials (4%) and others (1%) rounding out the category. The survey includes data from more than 200 online publishers.