New research from PricewaterhouseCoopers bodes well for the long-suffering online advertising sector.

PwC’s Internet Ad Revenue Report, conducted in association with the Internet Advertising Bureau, estimates first-quarter web spend at $1.6 billion – a 7% rise on Q4 2002 and 11% up year-on-year. This marks the second straight quarter of growth – the first time this has happened in two years.

The report – based on Q1 data from the top fifteen online ad outlets – identified paid search-engine ads as a growth area. This form of advertising accounted for 15% of total web spend last year and is expected to contribute 20% to 25% in 2003.

Data sourced from:; additional content by WARC staff