Tech Crunch is reporting the news announced today that Internet ad revenue for display ads dipped slightly in the first quarter of 2008. The growth of Internet display ads dropped from 16.7 percent in 2007 to 8.5 percent in 2008.

Despite this news, the site also reports that the Internet ads still led television, radio and print ads.

"Even with the slowdown Internet ad spending still grew faster than that for TV (1.7 percent), magazines (0.8 percent), newspapers (-5.2 percent), radio (-4.5 percent), and outdoor (2.5 percent). The overall growth of all advertising spending that TNS measures was flat at 0.6 percent growth over the first quarter of 2007."