18 June 2012 16:20

Yahoo hires former Google director to head ad revenue

Yahoo 470 313

Struggling web giant Yahoo Inc has hired former Google director, and veteran of the media sector, Michael Barrett as Chief Revenue officer. He is one of the first key appointments by interim CEO Ross Levinsohn, and is a clear statement of intent that Yahoo sees its future more as a media company than a technology company.

Key to the new strategy will be producing video content of their own that can generate ad revenue and syndication deals. This is not the first time that Barret and Levinsohn have worked together, as the two know each other fromn their time at Fox interactive media, where Barrett also served as Chief Revenue Officer. At Fox, his role was to oversee worldwide revenue for properties such as FoxSports.com and MySpace.

More recently, Barrett worked at Google, where he lead integration efforts following Google's acquisition of digital advertising platform Admeld Inc, where he served as CEO.

His new role, in which he will be responsible for Yahoo's global ad revenue and operations, is set to begin in July.

In recent times, search-based ads and other interactive formats have taken some of the ad revenue away from generic display advertising, which is Yahoo's bread and butter. However, online advertising as a whole is still growing, and revenue from online display ads in the US is still expected to grow from $12.4 billion last year to $15.4 billion this year.

Unfortunately for Yahoo, their share of this pot has been dwindling, with advertisers being increasingly drawn to the likes of Google and Facebook. However, the market for video ads is growing fast, and currently accounts for around 6% of the market. This is an area that Yahoo will be looking to for future growth.

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