cyberair - 8:27 pm on Apr 11, 2005 (gmt 0)

Supply and demand can't be determined completely at this point, because this is an emerging market where many competitors, advertisers, and publishers are coming in and out. In order to have a more accurate view of the demand and supply, we have to wait more on the market to be more stable and have more consistent ad inventory (YPN).

In any case, it is unlikely that online ad revenue will dry up. As ROI and other metrics get more reliable on the net, more offline ad revenue will move to the online world. Some of that to centextual, some to graphical, and some will go to other forms of online advertisement.

Therefore, we have a high confidence level that online ad spending will increase, traffic will increase as well.

Will Adsense go bust? Maybe.

Will contextual advertising and advertising revenue programs for small publishers disappear? No.