C-Net released an article today named, Spending on Net ads jumps in 2003. The key to this article is the following quote.
The report breaks down advertising revenue by categories, delivery methods and other critera. Keyword search advertising, in which companies pay to have their ads linked to certain search terms on sites such as Google, showed the strongest growth, accounting for 35 percent of all online advertising revenue in 2003. Keyword search accounted for only 15 percent of the market in 2002.
Most other advertising formats, including display ads and sponsorship advertising, showed slight to moderate declines.
AdWords, AdSense, Overture and the PPC arena is booming!