April 22, 2004

Source: eMarketer.com

The Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC) reported yesterday that their initial estimates for US online advertising revenues, released in February 2004, for Q4 2003 and the full year were on track.

The IAB and PwC officially reported that online ad revenues in the US grew by 38% in Q4 of last year totaling $2.2 billion. Online ad revenues for the whole year last year totaled $7.267 billion, rising by nearly 21% from 2002 when revenues hit $6.010 billion.

Looking specifically at online ad spending by vehicle, the IAB and PwC find that keyword search spending jumped from just 15% of total online ad spending in 2002 to 35% of spending last year. Other notable spending growth occurred in rich media and online classifieds, while spending on display advertising (formerly “banner advertising”) and sponsorships declined year-over-year.

The IAB and PwC note that Q3 online ad spending estimates were slightly higher than initially reported in February, officially totaling $1.8 billion according to yesterday’s report.

Benchmarking its estimates on the IAB/PwC estimates, eMarketer reported earlier this month that online advertising totaled $7.2 billion last year, representing 2.9% of total advertising spending in the US, and would grow to $8.3 billion this year, or 3.1% of US ad spending in 2004.

        

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