The 1997 fourth quarter revenue figure marks, the eighth record-setting quarter in a row. The industry saw continued spectacular growth, with a billion dollar run-rate established in the last quarter of the year. This places the medium within the ranks of traditional media for the first time. We also clearly see online advertising acting like traditional media, with seasonality trends emerging as an example.
Growth is very strong.
Importantly, this continuous growth is consistent and stable, reinforcing the conclusion that marketers are increasingly recognizing the importance of the medium as part of the full media mix, whether it's for brand marketing, direct marketing, retailing or consumer service. The multi-tasking nature of the medium ensures its future growth. The results reported are the most accurate measurement of online advertising revenues since the data is compiled directly from information supplied by companies selling advertising on the Internet. We are witnessing the evolution of the Internet into a vitally important consumer advertising medium, with increased online spending and consumer usage,underscoring its value to advertisers. Founded in 1996, the IAB is the leading online advertising association with over 175 active members.