Online advertising sales hit a new high last quarter, in what could be further evidence that advertisers are turning their attention back to the Web.

Online ad revenue hit $2.2 billion for the fourth quarter of 2003 and $7.2 billion for the year, according to data released Thursday by industry group Interactive Advertising Bureau (IAB) and independent audit firm PricewaterhouseCoopers. That's a 38 percent gain from the fourth quarter of 2002 and a 20 percent increase for the year.

Read more: CNet News.