U.S. Advertising Revenue at major media companies by sector

Online 2006 2007 Y/Y $ Change Notes

Google $6,040 $8,694 44% $2,654 Full US Rev

Yahoo $4,366 $4,727 8% $361 Full Us Rev

AOL $1,886 $2,231 18% $345 Advertising Only

Microsoft $1,600 $2,110 32% $510 CY Ads Only

Total $13,892 $17,762 28% $3,870

Share of Total Ad Spending 26% 30%

Total Excluding Google $7,852 $9,068 15% $1,216

Share of Total Ad Spending 15% 16%

Google $6,040 $8,694 44% $2,654

Share of Total Ad Spending 11% 15%

TV (Cable and Broadcast) 2006 2007 Y/Y $ Notes

Time Warner $3,827 $3,925 3% $98 Networks and Cable

Viacom $4,290 $4,690 9% $400 Global

News Corp $8,692 $9,607 11% $915 Fees and Ads

CBS $2,561 $2,461 -4% -$100 Fees and Ads

Total $19,370 $20,683 7% $1,313

Share of Total Ad Spending 36% 35%

Print (Newspapers and Mags) 2006 2007 Y/Y $ Notes

New York Times $2,078 $1,950 -6% -$128 Print ads only.

Gannett $5,275 $4,937 -6% -$338

McClatchy $2,091 $1,912 -9% -$179

Time, Inc. $2,663 $2,698 1% $35 “Print” portion of TWX

Total $12,107 $11,497 -5% -$610

Share of Total Ad Spending 23% 20%

Radio 2006 2007 Y/Y $ Notes

Entercom $440 $468 6% $28 Same station

CBS $498 $447 -10% -$51

Citadel $793 $763 -4% -$30

Clear Channel $3,438 $3,439 0% $1

Total $5,169 $5,117 -1% -$52

Share of Total Ad Spending 10% 9%

Outdoor 2006 2007 Y/Y $ Notes

Clear Channel Outdoor $2,898 $3,282 13% $384 Americas

Total $2,898 $3,282 13% $384

Share of Total Ad Spending 5% 6%

ALL 2006 2007 Y/Y $ Notes

Total Advertising $53,436 $58,341 9% $4,905

Online $13,892 $17,762 28% $3,870

Share 26% 30%

Offline $39,544 $40,579 3% $1,035

Share 74% 70%

Google $6,040 $8,694 44% $2,654

Share 11% 15%

Analysis by:

Silicon Alley Insider

Source: Company releases.