Internet advertising revenue topped the $1 billion mark for the first time during a single calendar year in 1998, according to IAB Ad Revenue Report. Revenue totaled $1.3 billion for the nine months ended in September, and was expected to hit $2 billion by the end of the year.
Consumer-related advertising made up 27% of the total. Computing followed with 24%. Financial services contributed 16%, telecom 11% and new media 7%.
The report, done by the New Media Group of PricewaterhouseCoopers for the IAB, found that 94% of all revenue transactions were cash based. Barter/trade deals accounted for 5%, and packaged deals for 1% of total revenue.
Banner ads continue to predominate, contributing 53% of the total. Sponsorships are next with 30%.
The IAB is an online advertising association with over 300 members.
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