Overture wins CNN over Google, rate per click increases
Overture wins won over Google by signing up CNN to an exclusive 3-year contract according to this Wall Street Journal story (subscription required):
By allowing advertisers to target customers using any word or phrase, these services -- Overture and closely held Google Inc. are the two best-known providers -- have allowed niche advertisers to find an audience on the Internet.
For next year, Overture has projected earnings per share between 90 cents and $1.05 on revenue between $875 million and $925 million for 2003. Last year, revenue totaled $288.1 million. Its advertisers paid an average of 34 cents per click in the third quarter, up from an average of 21 cents a year earlier.