More upbeat–but not too ecstatic–chatter about the state of the Internet advertising market this morning from Wall Street: Barclays Capital analyst Douglas Anmuth is raising his estimates for Google, citing “improving macro conditions [and] a stronger ad market.” Other online advertising bulls: Investors, who have been pushing up Google stock for months, and CEO Eric Schmidt, who has declared that the worst is over.
Sure, $489 for Amazon’s new Kindle DX textbook reader may seem like a lot. But if you take the long view–and keep your Kindle DX away from thieves and keg parties–it should pay for itself in a couple of years argues Barclays analyst Douglas Anmuth.
Midway through next year, Google’s $900 million, 3.5-year search advertising deal with News Corp. and MySpace expires. What are the odds that Rupert Murdoch’s social network gets anything close to that with a new contract? Very, very low.
AOL boasts that its traffic rose yet again in October. In the old days, where eyeballs trumped everything else, that’d be great. But today Internet businesses get evaluated on revenue, and those results aren’t anything to boast about.
Online search advertising (i.e., Google) is supposed to be the media business that’s most resistant to an economic slowdown: It’s targeted, cost-effective, measurable, etc. All true. But a lousy economy is a lousy economy, and even Google isn’t impervious. So says Barclay analyst Douglas Anmuth, who has just cut his estimates for the search giant.
Peter Kafka has been covering media and technology since 1997, when he joined the staff of Forbes magazine. Most recently, he has been the managing editor of the tech and media Web site, Silicon Alley Insider.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
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