Google nears $1 billion revenue in Australia

Internet giant Google is rumoured to be close to hitting the $1 billion revenue figure in Australia soon, with analysts suggesting the company could eclipse the commercial radio, magazine and outdoor advertising markets.

Lee Stephens, chief executive of Aegis Media, told The Age that the company’s revenue can be predicted by its market growth.

“When you look at their share of [advertising] market, roughly around 94%, look at the market growth in paid search, add in Google’s corporate services revenues on top of that and do the basic sums, $1 billion is what you’re looking at. It will be within a whisker.”

Chief executive of the Interactive Advertising Bureau, Paul Fisher, also believes Google Australia is on its way to $1 billion.

“If the industry continues to grow, percentage-wise in the mid- to high teens, which I think it will, we will get very close to $2 billion. Search and directories is 51% of the market so you would have to say Google will get very close to that mark.

Google Australia manager Karim Temsamani declined to comment on the specifics, although said: “I don’t know the revenues of other companies, but I guess if you looked at the rankings of online companies, it shouldn’t be too hard to work out.”