On Monday, online travel agent Preview Travel (Nasdaq: PTVL) announced it had signed major deals with five new advertisers, “each representing long-term, six-figure” commitments. The advertisers are AT&T, Hewlett-Packard, Discover Brokerage, AutoConnect and Ticketmaster Online-Citysearch.
Preview Travel’s advertising revenue has being improving steadily. Advertising sales were $3.3 million (US$) in 1998, an increase of 476 percent over advertising sales of $580,000 in 1997. Preview Travel reported that advertising revenue accounted for 34 percent of total revenue in the fourth quarter of 1998, compared to 13 percent of total revenue in the fourth quarter of 1997.
Shares of Preview Travel were up nearly 13 percent on Monday, finishing up 2-5/8 to 23. The stock was up more than a point in early trading today.