it’s still less than £200m for 2002, but it’s up 19% in a year when US Internet advertising was down 17% . [Thanks, MarketingFix]

The only explanation I can think of for this remarkable performance is that the US was still digesting some bad revenue data last year. if that’s the case, it’s further evidence that the US Internet advertising market has already bottomed out.

The Internet Advertising Bureau and PriceWaterhouseCoopers, who released the study, say that Internet advertising was 1.4% of all UK advertising and “on track to hit its target of taking a 2% slice of the advertising market by 2004”. That would be a very satisfying 20% annual growth rate.