Project Panama is on the decline according to a new report by SearchIgnite and RBC Capital Markets, reports AdWeek. The search advertising product is only a year old and with the state of the union at Yahoo, it’s no surprise that the product may be experiencing a fast downfall.
The report continues to say that even though the three big search parties, Google, Yahoo and MSN have seemed to be riding waves, with growth ebbing an flowing throughout the past fiscal year, SearchIgnite’s president Barnette told the publication that the market share between the three was fairly consistent. This is based on the 20 billion impressions and the 320 million clicks on all three search engines that the analytics firm tracked last year. The final rankings came in with Google taking the gold, Yahoo the silver and MSN the bronze.
Search ad spending grew by 27% over the previous year contrary to the popular belief that search traffic and advertising may be in trouble based on the tapering off of the end of the year numbers. SearchIgnite believes that the fourth quarter picked up and relinquished those fears by the influx in retail sales.