It seems what was new is old again. With Yahoo! delivering a spectacular profit result this week, the old economy parentals are looking jealously at a sector which after the nineties crash, seemed reassuring destined for extinction.
Yahoo's quarterly income is up 500 per cent, driven mainly by increased online advertising as blue chip clients finally awaken to the shift in media usage patterns away from mainstream television and print. Including fees that Yahoo! pays to third-party advertisers, the company's ad sales increased 150 percent year-over-year.
Not surprisingly, between improved profits and Google's spectacular IPO, industry stalwarts like Sumner Redstone said at last week's Smith Barney Citigroup media conference that Internet and mobile phone distributed content may become key growth drivers for the business.
Well and good. But if the infamous dotcom crash had any lesson to teach - it was the easy money is the hardest to make.
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