According to the Interactive Advertising Bureau (IAB) and PricewaterhouseCoopers (PwC), total online advertising revenues in Q1 2009 fell to $5.48 billion, down 10% from the previous quarter and down 5% from Q1 2008. That snaps a growth streak that started in Q2 2008 and is the first negative year-over-year rate since 2002. David Silverman of PwC, playing matters down, said, “Current economic conditions are clearly challenging.”
