According to numbers released earlier this month from the Internet Advertising Bureau, spending fell in both the first and second quarters of the year.
But Microsoft is facing major opposition to its plan to make privacy the default setting for Internet Explorers, and that opposition from the advertising industry might mean that the setting winds up being completely useless.
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If Cioffi is right, it does not look likely that Google Fiber will reach the critical mass needed to get the additional advertising revenues from faster Internet access it would need to come close to justifying its enormous investment.
Newspapers across the world are considering the best way to make money from the internet, particularly in a time of falling advertising revenues.
Google, the developer of the world's most popular Internet search engine, generates billions of dollars in revenues annually from selling online advertising services, including the delivery of targeted ads online.
That seemingly stable advertising business has taken a blow from the Internet.
Internet advertising revenues grew 15% in the second quarter from a year ago, according to the latest official tally released today.
It's also a big switch from product development: In the past, Mr. Karp has been critical of Internet advertising, even saying that traditional online ads turn his stomach.
Mr O'Connor has exposed online advertising and the Internet as a whole to the thing he hates most: interference from bureaucrats that could sap its ability to evolve and adapt.
The Internet search, cloud computing, software and advertising giant saw a 36.7% leap from last year.
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