US Online Advertising Grows by 27% in 2007

Online advertising in the US grew 27 percent last year, according to an IDC analyst. Internet ad spending totaled $7.3 billion for the fourth-quarter of 2007, about 28 percent more than the same period in 2006, according to IDC. For the 2007 calendar year, it reached $25.5 billion, representing year-over-year growth of 27 percent.

However, there was less positive news for Google as for the first time ever, IDC's research found Google actually lost market share. "Their domestic sales growth has slowed down," the analyst said. Google's net U.S. market share was down 0.5 percentage points to 23.7 last quarter compared to the prior quarter.

Mobile web set to unleash a "huge revolution" says Google CEO

The arrival of a truly mobile Web, offering a new generation of location-based advertising, is set to unleash a "huge revolution", Google Inc Chief Executive Eric Schmidt said on Friday at World Economic Forum in Davos, Switzerland.

Although consultancy firm Forrester predict mobile ad revenues of under $1 billion by 2012, Schmidt countered this figure by claiming that the mobile Web was reaching a tipping point.

"It's the recreation of the Internet, it's the recreation of the PC (personal computer) story and it is before us -- and it is very likely it will happen in the next year," Schmidt told a panel at the World Economic Forum.

Google aims to be a prime mover by launching an open U.S. wireless network.