Eric Schmidt's Money Quote

I couldn't find this before, and go figure, it winds up in Google - or at least on Google.com.

I've been looking for the quote from CEO Eric Schmidt at the Web 2.0 Expo that defines the future of advertising, and John Battelle shared the link from Google's site. Ready?

So in doing this strategic analysis, we looked at text ads, display ads (banner ads, as you know them), we looked at radio, bought a company there [dMarc], television, we're doing a series of trials there, acquired YouTube. Part of the reason being user phenomena, which is extraordinary and we're very satisfied with that, but also because it's obvious that online video will have a significant advertising component. You put all that together and you think, what would the advertising customer like? And what they would like is they'd like a single way in which they can see ads and then have the computer do the allocation for them.

Process that and if he's right, you have not just the future of Google, but the future of advertising. Wow.

If you prefer video, you can view the whole thing here: