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As the number of Web sites seeking advertising continued to grow in 1999, CPM rates declined, reaching a temporary plateau. According to an online advertising report issued by AdKnowledge, a provider of Web marketing management services, the number of ad-seeking sites exploded from 1,424 in December 1998 to 3,347 in 1999, a gain of 135 percent. Growth in 1998 and 1999 combined to total 224 percent. Meanwhile, the average CPM rate decreased by 6 percent in 1998 and 4 percent in 1999, about 1 percent per quarter.
“The growth of Internet advertising in the last few years has been pretty phenomenal,” said Michele Schott, director of marketing communications at the Palo Alto, Calif.-based
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