For the report, PricewaterhouseCoopers surveyed and aggregated the top 15 online ad sellers, then calculated an industry-wide estimate.
The IAB isn't the only organization to be optimistic that 2004 will end strongly for online advertising. Research firm eMarketer, which estimates online advertising revenue of $2.38 billion in the third quarter, is predicting revenues of $9.4 billion for the year.
eMarketer predicts that 42 percent of that total will be on paid search--reflecting a 55 percent increase from last year. But, said Senior Analyst David Hallerman, even without search, online advertising revenue would still be on the upswing. "If you take paid search out of the equation, and look at all the numbers, without this 800-pound gorilla," he said, online advertising would still grow by 15 percent over last year.