Online gaming, cell phones and internet protocol TV (IPTV) were highlighted as new catalysts for the non-traditional advertising market during Banc of America's advertising conference on July 11.

"Online gaming is a growing entertainment outlet for the 18-34 male demographic and advertisers are taking note: this year gaming advertising is expected to be about $100 million but is expected to grow to over $1 billion over the next several years," noted the research firm.

Panelists participating in the congress cited the potential of cell phones and IPTV as long-term growth drivers. Japan was offered as an example, where six times more e-commerce transactions occur on cell phones than on computers.

"We expect online players such as Yahoo! and Google to be aggressive in the mobile phone market in the years ahead," said Banc of America. IPTV could bring together the best aspects of TV and the Internet: entertainment value and detailed metrics.

Panelists also agreed that pricing resistance for non-traditional advertising was limited. "As ad dollars are shifting away from traditional media and towards Internet and other digital media, demand increases are driving growth because much of the non-traditional advertising -most notably paid search- has such a measurable ROI, negotiations tend to be a little more straightforward than some other media pricing negotiations," reasoned the research firm.

Banc of America concluded: "We continue to believe that paid search and Internet advertising are still in the early innings of a growth curve and believe Yahoo! is one of the relatively better positioned players in the space." Yahoo! is rated at "buy" with a $43 price target while Google is rated at "neutral" with a $230 price target.