Online advertising began in 1994 when HotWire sold the first banner ads to several advertisers. Revenue in the United States grew to an estimated $7.1 billion in 2001 or about 3.1 percent of overall advertising spending.
The dot-com bust destroyed or weakened many of the early online advertising industry players and reduced the demand for online advertising and related services.
What does it look like?
The online advertising industry concerns buying and selling advertising space that is accessed by viewers through the Internet.
(1) “search advertising” that appears on searchresults pages
(2) “display advertising” that appears on non-search web pages
(3) classified listings that appear on web sites
(4) Internet e-mail based advertisements.
The industry regained momentum by 2004 as the business model for “Web 2.0” came together.
A number of businesses emerged that facilitated the buying and selling of advertising space on web pages.
(e.g; Google has had a seven-fold increase in its market value from August 2004 when it was valued at $29 billion to $215 billion in December 2007.)
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