CEO wants 10 per cent of revs to come from mobile within 18 months.
Tim Armstrong, CEO of AOL, told Bloomberg that AOL's current haul from mobile is tiny, and that he's intent on addressing this.
“We’re very, very small right now in mobile,” he said. “The opportunity is there, and we’ve got to get really organised around it.”
By common consent, AOL is a veteran of the first dotcom boom that has never really established a solid business model or identity in the current web climate.
It's base was its dial-up and broadband subscription, which got it into a position where it could merge with Time Warner in 2000 (only to split in 2009)
But as that business dwindled, AOL struggled to find a second life. Last year, it posted a net loss of $782.5 million.
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Advertising is now its core revenue source, accounting for 60 percent of sales in 2010, compared with 52 per cent the previous year.
Armstrong said that acquisitions might form part of the strategy to gain mobile share. “Mobile is a faster opportunity to grow, percentage-wise. We’re doing it ourselves right now, but I wouldn’t rule out that we’re going to be aggressive” in acquiring companies, he said.
Older readers might remember that AOL has some 'previous' here anyway, buying Third Screen Media in 2007.
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