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AOL Inc. said it’s “laser focused” on getting a share of an estimated $20 billion gap in online advertising, as marketers race to catch up with consumers on the Internet.
“Consumers have shifted faster than ad dollars,” Tim Armstrong, chief executive officer of the Internet company spun off from Time Warner Inc., said in an interview today. “We’re building programs with both technology and design for advertising that are focused at closing that gap.” The company currently gets about 50 percent of revenue from ads and is “significantly” boosting sales staff, he said.
AOL’s acquisitions strategy is focused on purchasing “technology tuck-ins” to help AOL build its platforms, Armstrong said in the interview in Abu Dhabi. It’s also targeting video and mobile-phone content and is hiring journalists to create quality content, Armstrong said.