Internet ad revenue down 21.9% in second quarter

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New York--Internet ad revenue fell to $1.46 billion for the second quarter of 2002, down 21.9% from the same period a year ago, according to the PricewaterhouseCoopers/Internet Advertising Bureau Internet Ad Revenue Report.

The report was released at the IAB's annual meeting here Monday.

For the first six months of the year, Internet ad revenue totaled $2.98 billion, down 20.8% from the first half of 2001. Greg Stuart, president-CEO of the IAB, said the results were not surprising given the weak media sector in the first half.

Consumer advertising was the top category in online ad spending (32%), followed by computers (19%), financial services (14%), media (12%) and telecom (7%).

--Kate Maddox

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