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Online Advertising Continues To Rebound

A PricewaterhouseCoopers survey says the value of online ads in the first quarter was up 7% from the previous quarter and 11% from the year-ago quarter.
A rebound in online advertising is gaining strength. Internet advertising topped $1.69 billion in the first three months of 2002, the first time in two years the sector achieved two consecutive quarterly increases, according to a survey conducted by PricewaterhouseCoopers for the Interactive Advertising Bureau. In the first quarter, the value of online ads increased by 7% over the fourth quarter of 2002. Internet ads during the first three months was 11% higher than the same period a year earlier.

Bureau president Greg Stuart says the consecutive quarterly growth of Internet ads bodes well for online advertisers. "Consumers are going online in droves, and the ad dollars are following closely behind," he says.

Tom Hyland, chair of PricewaterhouseCoopers' New Media Group, says interactive advertising is poised for gradual and sustained growth. Many of the factors behind the online ad increase have momentum, Hyland says, noting that advertisers now have much more historic data to analyze their ads since they've been engaged in the online market for several years.

The first quarter online ad revenue figure was estimated by surveying and compiling data from the top 15 online ad sellers. PricewaterhouseCoopers extrapolated the results to calculate the total industry revenue figure.