Google was given the green light to acquire AdMob a year ago, and now the company is beginning to reap the benefits.
As smartphone adoption has erupted, the Internet giant has found a profitable new revenue stream in mobile ads, an expanding platform that it can add to its already multi-billion dollar search advertising platform.
According to a recent Google blog post, AdMob now gets 2.7 billion ad requests every day, has thousands of advertising clients–all of which take advantage of AdMob’s network of more than 80,000 mobile apps and sites.
With these numbers, Google can breathe a sigh of relief, knowing that the $750 million acquisition of AdMob is now bearing fruit.
Indeed, in tangent with the company’s mobile-search revenue, Google has become the advertising king on portable devices. Google dominates 91.4% of the $487.3 million mobile search market.
But AdMob has not solidified Google as the King of display ads, as it still has a big competitor in Apple; Apple’s iAds and Admob are neck-and-neck as far as display ad impressions goes.
That the two companies are competing for first place is not as significant as the fact that they’ve both positioned themselves to ride the smartphone boom. That’s why last fall Google projected that it would make $1 billion in mobile ad impressions by the end of 2011.