Spending by dot-com advertisers in traditional media quintupled in the third quarter from a year earlier, pushing the total for the first nine months of the year above $1 billion, according to Competitive Media Reporting.
The dot-com spending in media like broadcast and cable television, magazines and newspapers, totaled $1.37 billion for January through September, Competitive Media reported yesterday, an increase of 291.3 percent from $349.1 million spent in the first three quarters of 1998.
In the third quarter, spending totaled $608.5 million, up 411.3 percent from $119 million in the third quarter of 1998. That compared with percentage gains of 255.2 percent in the second quarter and 199.3 percent in the first quarter.
The E*Trade Group was by far the most advertised brand during the first nine months of 1999 at almost $89 million, up 424.5 percent from almost $17 million in the corresponding period of 1998. The four runner-up brands were: Value America, $46.5 million; Charles Schwab, $40.9 million; Snap.com, $38.1 million; and Ameritrade, $36.4 million.
"This is surely one of the fastest growing industries, if not the fastest, we have ever seen," said Jerry Arbittier, senior vice president for corporate research and analysis at Competitive Media in New York, a unit of VNU N.V. that tracks ad spending. "We do not make predictions, but anyone who is watching TV, reading newspapers or magazines, knows that fourth-quarter spending is going to be tremendous."
Westray Battle, The New York Times. December 14, 1999
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