The IAB-sponsored Internet Ad Revenue Report found that revenue for the third quarter fell 18% compared with the same period in 2001. That's a slight improvement over the 21.9% decline for the second quarter vs. the same period in 2001.
The Internet Ad Revenue Report is conducted independently by the New Media Group of PricewaterhouseCoopers.
"While we are reporting a modest gain, quarter to quarter, the reality is that the growth in the interactive advertising sector, as demonstrated by the top 15 sellers, is much stronger than is reflected in this report," said Greg Stuart, president-CEO of the IAB.
PricewaterhouseCoopers reports the first and third quarters of each current year as estimates, based on compiling data from the top 15 online ad sellers, which historically account for over 80% of total industry revenues.
The results of this revenue compilation are then extrapolated to calculate the total industry revenue figure.
These estimates are subsequently adjusted and included in the second and fourth quarter actual revenue reports.