NEW YORK (AdAge.com) -- Online advertising revenues surged to $1.7 billion in the third quarter to post the biggest revenue increase in two years, according to a new report.
The $1.74 billion reported is the highest revenue total since the third quarter 2001, when $1.73 billion in revenues was reported. The third-quarter total marks a 20% increase over the year-earlier period and a 5% rise over second-quarter 2003.
The report was issued by the Internet Advertising Bureau and PricewaterhouseCoopers.
Official third-quarter results will be reported along with actual fourth-quarter revenues in early 2004, the IAB said.
The IAB and PricewaterhouseCoopers attributed the latest revenue increase to improving economic conditions among marketers and the online advertising sector. The report's estimates are derived by surveying and aggregating third quarter data from the top 15 online ad sellers.
The IAB and PricewaterhouseCoopers survey includes data from online services, free e-mail providers and other online advertising companies.