In the last year, online publishing has undergone a fairly dramatic transformation. The revolution is still underway where platforms, devices, and spending are concerned, and it's all but guaranteed that we'll see more of the same for some time to come. It's enough to send publishers reaching for the antacid.

Case in point: Online advertising is projected to soar 40 percent, surpassing all other platforms by 2016 (eMarketer), and 73 percent of online publishers saw their display ad revenue increase in 2011, versus 53 percent in 2009. However, at the same time, even top news sites have failed to push advertisers to move significant revenue online, and publishers can't seem to agree real-time bidding (RTB) will be their savior or downfall.

Furthermore, the "Big Five" publishers -- Google, Facebook, Yahoo, Microsoft, and AOL -- attract a whopping 83 percent of U.S. online ad spend. Of this group, Facebook is expected to dramatically expand its share. New players are attracting more revenue as well. According to Business Insider, they are dominated by a few that are not necessarily thought of as traditional "publishers," such as Hulu, YouTube, and Twitter.

Read more by clicking on the full story below.