Bits & Bytes

September 11, 2007


(Alan and Susan Patricof)

>”Radio, network television and the newspaper industry all felt the sting of lower ad expenditures in the first half of the year. The financial services industry, which spends tens of billions of ad dollars, has been particularly hurt by the housing crisis and the subsequent credit crunch … Predictably, online ad spending was up in the first half of the year.” (FishbowlNY)

 >” … (T)here are also rows of neatly stacked business plans on that desk, from startups soliciting investments from his new VC firm, Greycroft Partners – proof that, his wardrobe notwithstanding, Patricof is back in vogue. ‘We’re seeing 30 to 50 deals a week,’ he says. ‘New York has never been hotter.’ What’s providing the heat is online advertising. The market for web ads jumped 35% in 2006 to almost $17 billion and has increased for ten consecutive quarters. The past two years saw a total of $7.3 billion in new spending, an ocean of cash that has given rise to a flood of web-media firms. ” (Fortune)

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