- US internet advertising spend was up 20 per cent year on year in the second quarter of 1998, according to the Internet Advertising Bureau's Advertising Revenue Reporting Program. Total spend hit $423 million.
The latest figures represent the ninth consecutive quarter of reported revenue growth for the industry, according to the report, which was presented by PricewaterhouseCoopers at the IAB's annual membership meeting in New York City.
Rich LeFurgy, the IAB chairman, said: "The continuing growth of online advertising revenue only reaffirms the vitality of the medium as an increasingly important component for advertisers' campaigns. We are seeing increasing numbers of large advertisers integrate online spending into their overall media plans, which is a significant boost for the medium."
Online spending during the second quarter was led by the computing sector, with 26 per cent of the market, but consumer-related advertising was not far behind with 24 per cent. Financial services had 13 per cent, as did new media. Telecoms accounted for 9 per cent.
The survey also found that the overwhelming number of revenue transactions, (95%) continue to be cash-based with barter deals accounting for (5%) of total spending.
Banner advertisements continue to dominate spending in the category (58%) with sponsorships (37%), interstitials (3%) and others (2%) rounding off the category.
Similar research into the UK industry is expected shortly, but has already been delayed several times.