Tuesday, February 22, 2005
Q4 2004 INTERACTIVE ADVERTISING REVENUES TOTAL APPROXIMATELY $2.70 BILLION

ANOTHER RECORD-SETTING QUARTER FOR INDUSTRYS
New York, NY (February 22, 2005) Today, the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC) announced that Internet advertising totaled nearly $2.7 billion in the fourth quarter of 2004, the highest revenue quarter reported by the IAB. Estimates for the full-year 2004 totaled just under $9.6 billion – a 32% increase over full-year 2003 ($7.3 billion). Q4 2004 increased nearly 24% over Q4 2003 ($2.2 billion) and is approximately 17% higher than Q3 2004 ($2.3 billion). In November 2004, the IAB announced that the estimate for revenue in Q3 2004 was $2.4 billion. That figure has been revised to $2.3 billion. The IAB sponsors the Internet Ad Revenue Report, which is conducted independently by PwC.

The third and fourth quarter online ad revenue figure was estimated by surveying and aggregating 2004 fourth quarter data from the top 15 online ad sellers. The results were then extrapolated to calculate the total estimated industry revenue figure. Actual third and fourth quarter results will be reported in the full Internet Advertising Revenue Report, expected in Spring 2005.

About the Internet Advertising Revenue Report
Conducted by the New Media Group of PricewaterhouseCoopers LLP, the "Advertising Revenue Report" was started by the IAB in 1996, and represents data from all companies that report meaningful online advertising revenues. The results are the most accurate measurement of interactive advertising revenues because the data is compiled directly from information supplied by companies selling advertising on the Internet. The survey includes data concerning online advertising revenues from Web sites, commercial online services, e-mail providers, and all other companies selling online advertising. The full report is issued twice yearly at the full and half year, and top-line quarterly estimates are issued for the first and third quarters

About PwC
PricewaterhouseCoopers LLP (www.pwc.com) provides industry-focused assurance, tax and advisory services for public and private clients. More than 120,000 people in 139 countries connect their thinking, experience and solutions to build public trust and enhance value for clients and their stakeholders.

Unless otherwise indicated, “PricewaterhouseCoopers” refers to PricewaterhouseCoopers LLP, a Delaware limited liability partnership. PricewaterhouseCoopers LLP is a member firm of PricewaterhouseCoopers International Limited.

About IAB
Founded in 1996, the Interactive Advertising Bureau (IAB) represents more than 200 leading interactive companies that are actively engaged in, and support the sale of interactive advertising. IAB members are responsible for selling over 86% of online advertising in the United States. On behalf of its members, the IAB evaluates and recommends standards and practices, fields interactive effectiveness research and educates the advertising industry regarding the use of interactive advertising. For more information on the IAB please visit www.iab.net.

Contact: Emily Kutner-
IAB 212-949-2432
[email protected]