IAB: Nearly $1 Billion Spent on Internet Ads in 1997
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The Internet Advertising Bureau said its latest report shows that spending for advertisements on the Internet reached about $906 million in 1997.
And fourth-quarter spending patterns, if they continue in 1998, would make the industry a billion-dollar business.
The 1997 total represents an increase of 240% from 1996, according to the report. And fourth-quarter ad sales hit $335.5 million, up from $227.1 million in the quarter ending in September.
The survey was done by Coopers & Lybrand and is considered one of the best estimates of the nebulous dollar amounts that get bandied about in the world of Internet advertising, as Web operations report their figures anonymously.
Although the rate of increase in ad spending for Internet media is impressive, it still fell behind all other forms of media, including billboards.