The number of companies booking display ads on YouTube grew by a factor of 10 in the last year, according to a Bloomberg report published today. This revelation comes as Google is looking to boost its overall display ad revenue, which some think may hit $1 billion this year.
YouTube doesn’t publish ad rates for its site online anymore, but the most recent publicly available rate card revealed that a home page ad cost $175,000 per day, and AdvertisingAge reported in December that the home page was sold out 90 percent of the time in the third quarter of 2009.
YouTube has been putting a lot of effort in recent months into increasing its monetization. It launched display ad units on its mobile site in March. The site also recently unveiled a self-serve display ad overlay builder that allows small advertisers to build ad overlays for YouTube videos. Citigroup estimated two months ago that YouTube could bring in $1 billion revenue in 2011.
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