Advertising spending on the internet ended 1997 with such a flurry that the total spent ended up at $906.5m, according to figures from the Internet Advertising Bureau (IAB). The figures are thought to be about the most accurate as they are collected in confidence from about 200 web publishers, most of which are IAB members, and collated by the New Media group of Coopers & Lybrand. Fourth quarter spending was $335.5m, up from the third quarter of $227.1m, and compared to $109.5m in the fourth quarter of 1996. The total for that year, using the IAB’s method, was $267m. All this begs the question of just how much bad PR will be generated when the first quarter-on-quarter decline is announced, such is the level of expectations of growth in this market. Additionally, the IAB, not providing any great insight it must be said, points out that the figures put the industry on course for a $1bn run rate this year.
