European web firms are banding together to form a new trade group, the European Internet Advertising Association, to promote the online medium.

Likely founding members are Yahoo!, MSN, AOL, Lycos Europe, Tiscali and T-Online, plus online marketing companies such as Adlink and IP-Web.Net.

The EIAA plans to raise advertisers’ awareness of the web’s strength as an ad medium by funding research to compare the pros and cons of different media outlets. It will also look at such disputed topics as how to standardise audience assessment and the terms and conditions offered to advertisers.

Chairing the body is Michael Kleindl, chief executive of Adlink.

Data sourced from: BrandRepublic (UK); additional content by WARC staff