Internet advertising rose 78% last year

Bloomberg News Service

New York — Internet advertising increased 78 percent last year after more than doubling in 1999, a study found.

Advertisers spent $8.23 billion to plug their products and services on the Internet last year, compared with $4.62 billion a year earlier, according to a study from the Interactive Advertising Bureau and accounting and consulting firm PricewaterhouseCoopers.

Fourth-quarter ad spending increased 8.9 percent to $2.16 billion from $1.99 billion in the third quarter, a growth rate that is "markedly lower than historical levels," the companies said in a statement, without giving details.

The bureau in December said third-quarter sales fell 6.5 percent from the previous quarter.

Internet companies such as Yahoo! Inc. have reported falling sales as manyscuss the report.

More than 100 companies involved in Internet advertising responded to the most recent survey, although responses are kept confidential, said Peter Petrusky, direcly on ads for the bulk of their revenue, have reported falling sales as manyscuss the report.

More than 100 companies involved in Internet advertising responded to the most recent survey, although responses are kept confidential, said Peter Petrusky, direcInternet advertising rose 78% last year.