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Despite the current economic crisis, the U.S. Internet advertising industry is not experiencing a pull-back in spending. Rather, online advertising continues a fast, if somewhat muted, growth during 2008, as the current situation accelerates the shift of advertising budgets from traditional into new media.

SPOX.com Grows 143 Percent to Reach 2 Million Unique Visitors

In April, Brazil had the largest Internet audience in Latin America with more than 19 million Internet users. Brazilians also exhibited heavy engagement, with the average Internet user spending 30.2 hours online during the month, substantially higher than the Latin American (28.6 hours) and worldwide (25.7 hours) averages. Argentina (32.4 hours) and Venezuela (31.5 hours) [...]

Internet advertising in the United States will continue to grow fast even as the current economic woes will lead to a contraction in ad spending overall.

Without a powerful new portal to suck up advertising dollars, online advertising power could continue to shift to the hot areas of the moment, such as mobile phones and social-networking sites like Facebook.

In February, Google Sites once again ranked as the top U.S. video property with nearly 3.6 billion videos viewed (35.4 percent share of all videos), gaining 1.1 share points versus the previous month. YouTube.com accounted for 96 percent of all videos viewed at Google Sites. Fox Interactive Media ranked second with 586 million videos (5.8 percent), followed by Yahoo! Sites with 293 million (2.9 percent) and Microsoft Sites with 293 million (2.9 percent).

Google stock is off 35% from highs, amid ad fears, down from the $700 mark.