ClickZ reports – ‘Internet ad spend topped $2.4 billion last quarter, according to the quarterly “Internet Ad Revenue Report” conducted by PricewaterhouseCoopers (PwC) on behalf of the Interactive Advertising Bureau (IAB).
The third quarter estimates mark the eighth consecutive quarterly increase for the industry and the fourth record-setting quarter. Q3 2004 represents a 35.3 percent increase over the $1.79 billion of the year-ago quarter, and a 2.4 percent increase over the $2.37 billion of the previous quarter.
“Historically, the second and fourth quarters are the strongest in advertising,” said Greg Stuart, the IAB’s president and CEO. “That the industry bested Q2 revenues is testament to the confidence and success marketers have found in the medium. As the experts predict, the holiday season should be a merry one for the industry.”
Revenue for the first nine months of 2004 totaled slightly over $7.0 billion, compared with the $7.3 billion in revenue reported for all 2003. Based on these numbers, 2004 could be a record year, beating the previous $8.0 billion revenue record reported in 2000, according to Pete Petrusky, director of advisory services at PwC.
The third-quarter figures are an estimate, based on aggregated data from the top 15 online ad sellers. These results were extrapolated to calculate the total estimated industry revenue figure. Actual Q3 results will be appear in PwC’s full report, expected in Spring 2005.’
Read more at Report: Internet Ad Spending Hits New Heights