By: Online advertising generated $1.692 billion during the first quarter of 2003, according to estimates from the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC).
It's the first time in two years the industry achieved two consecutive quarterly increases. Revenues rose 7% over the fourth quarter of 2002 and 11% over the year-ago period.
"The future for interactive advertising appears to be on strong footing and poised for gradual and sustained growth," said Tom Hyland, partner and chair of the new media group for PwC. "Many of the factors contributing to last quarter's up-tick seem to have held momentum, including improved data for advertisers to analyze as they have now been engaged in the market for a longer period of time."
The first quarter estimates are based on data from the top 15 online ad sellers. The actual first quarter results will be available in September.
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