Internet advertising: still crashing, perhaps not plummeting

According to the Internet Advertising Bureau, Internet advertising was down 18% in the first quarter.
This is still worse than other media. The IAB says, “According to CMR, 2002 first quarter ad spending was down 13.8 percent from the first quarter of 2001 for cable TV, 9.6 percent for magazines and 8.5 percent for national newspapers. In contrast, Spot Radio and Network TV both reported strong results for the first quarter of 2002, up 9.5 percent and 6.6 percent respectively.”
It’s not clear how much of the decline is due to the improved booking and accounting practices.