Spending on Internet advertising rose 45 percent from the third quarter of last year to the fourth and reached $267 million for the entire year, the Internet Advertising Bureau said today.
According to the IAB revenue results report, conducted by accounting firm Coopers & Lybrand LLP's new media group, the amount of money spent on Internet advertising in the fourth quarter made up more than 40 percent of all the money spent last year.
Who was spending the money? According to the report, the largest category, not surprisingly, was computer products, which accounted for 38 percent of revenues. Consumer-related products were next, followed by new media, telecommunications and business services.
"The 45 percent quarter-to-quarter increase is a clear indication of the growing role advertising revenue is playing in supporting the Internet as it evolves into a true consumer medium," said Rich LeFurgy, chairman of the IAB board and vice president of advertising and marketing at Starwave Corp., based in Bellevue, Wash. "All indications are that we will continue to see significant growth throughout the year 1997."