American Internet advertising continued pumping up its revenues, hitting an estimated $2.3 billion in the first quarter of 2004, a 39 percent jump from the first quarter of 2003, according to the Interactive Advertising Bureau.
The IAB said this revenue surge made for the highest first-quarter sum since they began tracking online ad revenues with PricewaterhouseCoopers in 1996.
“Clearly, we’re thrilled with the numbers,” said IAB chief executive Greg Stuart, announcing the first quarter figures. “However, they are just one side of an enormously compelling story. The last two years have offered marketers the opportunity to collect research and data that proves, beyond a shadow of a doubt, Internet advertising accomplishes key marketing goals as well, if not better, than any other ad medium. The proof is in the results.”
PricewaterhouseCoopers new media chair Tom Hyland agreed. “All through 2003 we published positive revenue results for Internet advertising, and the trend continued through the first quarter of 2004,” he said. “The business fundamentals remain solid, the technology infrastructure is advancing at a rapid pace and marketers are continuing to use the Internet for all types of marketing and promotion.”
IAB said the first-quarter online ad revenue figure was gathered through surveying and blending information from the top 15 online advertising sellers. Their survey includes information on online ad revenues from Websites, commercial online services, free e-mail service providers, and anyone else selling online ads. They use estimates on the first and third quarter revenue reports, and actual figures when the second and fourth quarter figures are released.
