Showing the first signs of growth in a year in a half, Internet advertising revenue totaled $1.47 billion for the third quarter of 2002, according to a new study.
Nine of the top 15 companies selling interactive advertising experienced year-over-year revenue growth averaging 66% for third-quarter 2002 over third-quarter 2001, according to PricewaterhouseCoopers, which conducted the study sponsored by the Interactive Advertising Bureau. The research compares results from the first and the third quarters of the current year.
Revenue for the third quarter of 2002 was down 18% from the third quarter of 2001. This is an improvement over the previous year, when revenue declined 21.9% between second-quarter 2001 and second-quarter 2002.
“The return to positive growth in both online and offline media is a healthy sign for the overall advertising industry, but should be viewed cautiously, as we believe that the positive steps that are being taken are as much cost-driven as they are recovery-oriented,” said Tom Hyland, chair of PricewaterhouseCoopers New Media Group, in a statement.
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