Internet ad revenues declined from the second quarter to the third this year in what remains "the fastest-growing medium ever," with ad revenues of almost $2 billion for the quarter, according to the author of a report released Wednesday.
The survey, sponsored by the Internet Advertising Bureau and conducted by PricewaterhouseCoopers, New York, found that third-quarter Internet ad revenues declined 6.5 percent from the second quarter but increased 63 percent from last year's third quarter, despite "a comparatively weaker advertising market," said Tom Hyland, who heads PricewaterhouseCoopers' new media group.
The report uses data from more than 200 companies representing over 1,500 Web sites.
The slowdown has its roots in dot-com advertising cutbacks and the traditionally weak third quarter, said Rich LeFurgy, chairman of the IAB and general partner of WaldenVC. But he said there is "no doubt" traditional advertisers are spending more online, as reflected by the $6 billion spent over three quarters of this year.
Janis Mara, ADWEEK. December 21, 2000
Copyright © 2000 BPI Communications, Inc.. All rights reserved.