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News Summary 100609
This week digital news was dominated by online advertising stories from Phorm and MySpace coupled with the opening week of success for Microsoft’s new search engine, Bing.Officially launched on 3 June 2009, Bing shot past Yahoo! Search to become the second most used online search engine in the world. Bing even managed to dent Google’s seemingly impenetrable force field at its peak on 4 June 2009, as it commanded 16 per cent of the US search engine market, dragging Google down to an unprecedented “low” of 72 per cent.
The results, monitored by StatCounter showed that Bing had beaten Yahoo! Search by an impressive six per cent in its opening couple of days of online service. The merriment was short lived however, as order was re-established later in the week. By 8 June, Bing had slipped behind Yahoo! Search and Google had firmly stamped its 90 per cent monopoly back onto the search market.
An optimistic Aodhan Cullen from StatCounter said: “It remains to be seen if Bing falls away after the initial novelty and promotion, but at first sight it looks like Microsoft is on to a winner,” according to vnunet.com.
Meanwhile, behavioural targeting company Phorm announced they had raised £15 million ($24.5 million) in order to grow their online advertising platform in Britain and South Korea. Phorm’s technology has met bitter public disapproval for allegedly breaching user privacy, but the financial market rallied around the tech company with impressive funding.
Not to be outdone in the online advertising market, MySpace announced a tactical alliance with Viacom Brand Solutions and Pearl & Dean, creating a trio of advertising expertise across multimedia platforms in TV, cinema and online.
Online Advertising news posted by Burt Ernstein on 10 June 2009
