From Tom Abate:

Summarizing a report from the Internet Advertising Bureau in conjunction with PricewaterhouseCoopers, MediaPost writes:

“Internet ad spending remained concentrated among the top 10 sellers online, which accounted for 70 percent of all money spent. Ninety-one percent of all ad dollars online were spent with publishers in the top 50… Search (41%), banners/display (21%) and classifieds (17%) continued to account for the highest percentage of ad spending online … while search increased its share and banners/display ads remained constant, the proportion of online budgets allocated to classified ads dropped 3% from the first half of 2006.”

So let me just tell you what the IAB just reported. Not only are old media losing ad revenues to new media. The revenue flowing to new media is remaining concentrated at the top. The tens of thousands of serious bloggers, the millions of other websites, they’re all sucking hard, but sucking wind when it comes to revenues.

Tell me: how does this revenue picture equate to a more democratic media?