CEO Tim Armstrong says he’s still overhauling the Internet company in advance of its spinoff from Time Warner, but he has hopeful noises to make about ad sales. He has nothing, however, to say about chats with Microsoft.
Last week, I noted that Internet ad spending had dropped five in the first three months of the year, and wondered when Web ads might rebound. Here’s a data point for optimists in the “soon, real soon” camp: Procter & Gamble, the world’s biggest marketer, is pouring more into Web ads than ever. Last quarter it increased its spending on Internet display ads by nearly 150 percent.
The world’s biggest advertiser says it’s not cutting back on marketing during the recession–but it is changing the way it spends those dollars. Good news for media companies–especially if they’re in the coupon business.
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. Read more »
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