Web Ad Revenue on Pace to Top 2000 High

NEW YORK Notching its eighth consecutive quarterly increase, Internet advertising revenue reached an estimated $2.43 billion in the third quarter and is on pace for 2004 to surpass the $8 billion recorded during the dot-com boom’s peak four years ago, according to a report released today.

The Q3 figure is up 35.3 percent from $1.79 billion in the year-ago period and 2.4 percent over $2.37 billion in the second quarter.

The estimates—based on aggregating data from the top 15 online ad sellers—are from the Interactive Advertising Bureau-sponsored Internet Revenue Report, conducted independently by the New Media Group of PricewaterhouseCoopers.

For the first nine months of the year, online ad revenue comes in at slightly over $7 billion, compared to $7.3 billion for all of 2003.

“Based on historical revenue results, 2004 is shaping up to be a record year, possibly exceeding by a large margin the previous revenue record reported in 2000,” predicted Pete Petrusky, director of advisory services at PricewaterhouseCoopers.