1. eMarketer The Changing BT Landscape Trends & Traps ValueClick Media Media Lounge Chicago, March 27, 2008 David Hallerman Senior Analyst [email_address]

2. Internet & BT Spending

3. US Internet Advertising Spending , 2006 - 2012 (billions) Source: eMarketer, March 2008

4. US Behavioral Targeting Ad Spending, 2006 - 2012 (millions & % of Internet total) Source: eMarketer, March 2008 2.1% 2.7% 3.4% 4.2% 5.3% 7.1% 9.4%

5. BT ad spending growth will be far stronger than for total Internet advertising… Source: eMarketer, March 2008

6. Tactics marketers say will get budget increases of more than 5% in 2008 Source: MarketingSherpa, ad:tech, February 2008 % respondents, Dec. 2007

7. Perspective…

8. US Digital Spending, Revenues, Sales, 2008 (millions) Source: eMarketer, 2007-2008

9. US Digital Spending, Revenues, Sales, 2011 (millions) Source: eMarketer, 2007-2008

11. US marketers say, “BT among most important tactics ( online or offline )” % respondents, 2007 Source: IAB, ANA, Booz Allen Hamilton, October 2007

12. Most ad execs agree: “Long tail always existed, technology makes it easier …” Source: MediaPost, Dynamic Logic, March 2007 % respondents , Mar. 2007

13. Problems with Web analytics make ad tracking somewhat problematical % respondents, Apr. 2007 Source: WebAnalyticsDemystified, June 2007

14. US marketers say, “Personalization top marketing trend, but basics rule !” % respondents, Oct. 2007 Source: Anderson Analytics, November 2007

15. Budget share that ad execs reserve for new media properties and experimentation Source: AAF, February 2007 % respondents, Jan. 2007

16. Largest US advertisers still (mainly) put small share of spending online * Source: Advertising Age, TNS, June 2007 *display advertising, 2006 3.1% share among top 100

17. Sir Tim Berners-Lee Creator World Wide Web “ If you want to use it [ my Web history ] for something, then you have to negotiate with me. I have to agree , I have to understand what I’m getting in return.”

18. US consumers say, “ Not comfortable with being tracked online” % respondents, Feb. 2008 Source: TNS, TRUSTe, March 2008

19. Jon Leibowitz Commissioner Federal Trade Commission “ When you’re surfing the Internet, you never know who is peering over your shoulder or how many marketers are watching.”

20. “ Thank You! ”