Jupiter projects 10% boost in online ad spending for 2003

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New York--Online ad spending will grow 10% in 2003, according to a new report by Jupiter Research, a division of Jupitermedia Corp.

The report comes on the heels of a disappointing report from PricewaterhouseCoopers and the Internet Advertising Bureau that showed online ad revenue dropped 20.8% in the first half of this year, compared with the year-earlier period.

The Jupiter and IAB reports were released this week at the Jupiter/IAB Advertising Forum in New York. Jupiter said that while online ad spending will be flat this year at $5.6 billion, increased spending on online classified ads and growth in broadband connectivity will fuel increased spending by online marketers, reaching $14 billion by 2007.

Sectors that will lead online ad spending within the next five years include the automotive industry, which will spend $1.8 billion on online advertising; health companies, which will spend $1 billion; and the travel industry, which will spend more than $800 million, Jupiter predicts.

--Kate Maddox

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